Market Reports, News

A US survey has revealed that owners of EVs are apparently rationing their use of these alternative-fueled cars because of range and charging anxiety and it is costing them big time.

The survey also showed that owners of hybrids are getting the best value from alternative fuel technology in terms of miles used per dollars paid. ICE vehicles are not far behind.

Honda Insight

The latest iSeeCars study predicted that hybrids are set to become the dominant drivetrain throughout the industry.It found that electric vehicles are driven 20 per cent less than gas (petrol)-powered cars and EVs cover the least miles per year of all drivetrain types. 

This makes EVs the most expensive vehicles on a per-mile basis, costing 63.6 per cent more than gasoline vehicles for every 1000 miles driven per year, ISeeCars said.

The survey analysed data from more than 1.3 million three-year-old used cars to compare how far gasoline, EV, hybrid and plug-in hybrid cars are driven and to determine the cost per 1000 miles driven per year.

ISeeCars found that the best return in terms of miles travelled per dollars paid was dominated by hybrids.

In fact the top 10 of all cars in terms of value per miles driven were all hybrids (with one PHEV).

The top five were the Honda Insight ($1463), Hyundai Ioniq Hybrid ($1813), Toyota Corolla Hybrid ($1857), Toyota Prius ($1881) and the Hyundai Elantra Hybrid ($2177). 

On the other hand the worst in terms of value per miles driven was the Porsche Tycan EV which only averages 6308 miles driven a year and costs an average $138,914 for a cost per 1000 miles of $22,021.

The Porsche Cayenne Plug-in Hybrid cost $14,681 for 1000 miles and the Tesla Model S was $11,623. The Porsche Tayacan does the fewest miles of all alternative fueled vehicles in the survey at 6308 miles.

Porsche Cayenne Plug-in Hybrid

The survey showed the average electric car costs $5108 for every 1,000 miles per year it’s driven and the average cost per 1000 miles is $3056 for hybrids, $3123 for gasoline cars and $4351 for plug-in hybrids

The Porsche 911 is the most expensive gasoline model at $43,214 per 1000 miles driven, the survey said.

The Chevrolet Spark is the least expensive gasoline model at $842 per 1000 miles driven. The Nissan Versa, Hyundai Accent, and Mitsubishi Mirage cost roughly $1000 per 1000 miles driven.

Karl Brauer, iSeeCars executive analyst said in a statement: “Range anxiety and charging infrastructure are top-of-mind for EV drivers and those factors likely limit how far owners will drive them. 

“Hybrids and plug-in hybrids, where all-electric battery range is limited but range anxiety isn’t a factor, are driven only slightly less than gasoline cars, as reflected in their similar yearly mileage.”

“While electric vehicles are the most expensive drivetrain for their annual mileage, hybrids are the least expensive – even cheaper than traditional gasoline models. 

“This is because hybrid owners use their cars at almost the same rate as gasoline cars, while their average price is slightly lower than gasoline models. 

“Hybrids have become increasingly popular with consumers in recent years and now many mainstream models, including the newest Toyota Camry, are only sold as a hybrid. This technology is set to become the dominant drivetrain throughout the industry,” Mr Brauer said.

By John Mellor

AdTorque Edge