Car dealers have a new and growing array of options when it comes to hybrid and electric vehicles, but if you’ve been paying attention to recent headlines, decisions made by major automakers reflect the market’s tilt toward hybrids higher than electric vehicles. Ford just announced that it is delaying the launch of its electric pickup truck and will focus more on its North American hybrid lineup in the short term.
“The electric car craze has died down” and the idea of “consumer choice” has re-emerged among car companies from Ford to General Motors, Mercedes-Benz, Volkswagen, Jaguar Land Rover and Aston Martin. are scaling back or delaying their electric vehicle plans. GM’s electric vehicle sales remained negligible in its most recent quarter.
But finding the best value for money can be complicated. These decisions often depend on factors such as upfront costs, driving habits, how long you plan to own the car, costs you may incur over time, and even where in the country you live.
Even in the headlines, the answer isn’t always straightforward. Here are some tips to help car buyers make the right decision.
Calculate your driving time
Before you start comparing costs, it’s worth considering how you plan to use the vehicle.
Do you only drive 5 or 10 miles to and from get off work every day, or do you plan to take the car on a longer trip? If you frequently drive long distances, consider whether there are fast-charging stations along the way. If fast-charging stations are scarce, as they are in many parts of the country, a hybrid may be better and you can just pull into a gas station, said Sandeep Rao, principal researcher at Leverage Shares You can continue driving. Investment funds include some focused on shares of electric vehicles and traditional automakers.
The federal government’s initiative to build a vast charging network across the United States has yet to be widely implemented. Instead, the focus is on parts of the country such as California, the New York tri-state area, Florida and Texas, but the vast majority of people live in between. “Most Americans don’t have access to electric vehicles because there’s not enough charging infrastructure,” Rao said.
He also says to consider how long you plan to own the car, the car’s potential service needs and what maintenance options are nearby. Other factors include your home setup. Do you have what it takes to charge your electric vehicle quickly and easily? What is the upfront cost to upgrade the system for faster charging, if necessary?
Calculate the upfront costs, electric vehicles and hybrid vehicles
If you’re still having trouble deciding between an electric car and a hybrid, the next thing to consider is the upfront cost.
this Average price of the top ten best-selling electric vehicles According to data from independent electric vehicle marketplace Find My Electric, the US price is about $53,758, with the average price of the low-end version of each model being $48,430 and the average price of the high-end version of each model being $64,936. According to its data, the prices of the 10 electric vehicles range from $26,599 for the Chevrolet Bolt EV to $99,000 for the most expensive version, the Rivian R1S.
In contrast, average starting price According to iSeeCars.com, a car search engine, a hybrid car costs $33,214.If you have a specific model, the Department of Energy provides tool Compare up to four vehicles at a time. You can also compare different models based on fuel efficiency.
Search for available automatic rebates and incentives
If you’re leaning towards an electric vehicle but still find the upfront costs daunting, look for possible discounts. The federal government offers subsidies of up to $7,500, but it’s becoming increasingly difficult to obtain them as more manufacturers don’t qualify, Rao said.
Look for state and local incentives, too.Buyers can visit National electric websitemaintained by the nonprofit Veloz, seeks to find incentives such as vehicle tax credits and rebates, charging rebates, local utility incentive programs and other special driving benefits for electric vehicles.
“Depending on where you live, you might be able to drive an electric car that costs similarly to a hybrid or internal combustion engine,” said Steve Christensen, executive director of the Responsible Battery Coalition. Car leaves parking lot.” Responsible battery management.
Consider a plug-in hybrid
Rao said another option people could consider is plug-in hybrid electric vehicles, which offer an attractive option for those transitioning from gasoline and diesel-powered cars to battery-powered vehicles.
The biggest differences between full hybrids and plug-in hybrids are the size, cost and purpose of the batteries, according to one company. Online Q&A From Progressive Casualty Insurance Company. Additionally, a plug-in hybrid’s battery can be charged at home or at a public charging station, while a full hybrid uses a gas engine to charge.
If you’re considering a plug-in hybrid, the Department of Energy has a calculator This can help estimate personalized fuel use and costs based on your driving habits, fuel prices and charging schedules.
Focus on total cost of ownership, not just upfront costs
Generally speaking, electric vehicles will cost more upfront, but you’ll likely be better off over time.
For example, according to a recent study from the University of Michigan, small electric vehicles, such as a compact car or sedan with a range of about 200 miles, will be as effective as conventional hybrids of similar size in five years or less. break even study. There’s no incentive, said study lead author Maxwell Woody, a doctoral student at the University of Michigan.
However, even with incentives, midsize SUVs, pickup trucks or other vehicles with larger batteries with a range of up to 400 miles cannot break even with hybrids, the study found. Woody said it’s worth noting that the data is based on a longer history of battery prices, which have fallen significantly in recent years and are expected to continue falling, so electric vehicles will generally perform better in the near future.
Doing the calculations for plug-in hybrids is more complicated because the cost of running the car can vary significantly depending on how much it costs to charge versus refueling. For example, if you use all-electric power for city driving, your costs could be close to those of an electric car, Woody said. If you’re taking it on a long trip, he said, refueling costs may be more similar to a gas-powered car.
Albert Gore, executive director of ZETA, said maintenance costs must be taken into account when considering total cost of ownership. ZETA is an industry-backed alliance advocating for the full adoption of electric vehicles.He pointed to a study Research from Argonne National Laboratory shows that scheduled maintenance costs per mile are significantly lower for electric vehicles than for conventional hybrids or plug-in hybrids.
Also make sure to compare apples to apples in terms of features, model, year, quality and use cases, Woody says.For example, someone considers Nissan Leafit is fully electric, may look at comparable data Honda Civic HybridHe said.
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