Where can I find Average ICE vs EV Cost of Ownership

[Bishop]

As I continue down this road of trying to figure out which path to take, I am trying to figure out what is the cost of ownership (average) of EVs vs ICE vehicles?

Some government data gave me $0.101/mile for ICE vs $0.061/mile for EV. How does this number sound to you all? This just seems high as the cost per month would be ~$240 for ICE and ~$140 for EV on 28k miles per year.

The AFDC has a pretty nifty car comparison tool. They are showing $0.12 vs $0.20 per mile when I compare a MME vs a Honda Accord over the same distance.

Also gave me a nice comparison graph below to see how the cost of ownership of the cars compares over time. Even with a high initial cost difference ($12.5K after tax credit), the MME paces the ICE Accord for the first five years then really separates itself and the Accord is one of the cheaper cars to own.

If someone thinks Im looking at this wrong, I would love their input. Still just trying to make sense of all this EV vs ICE as I make the switch.

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[ZuleMME]

No graphs or other pretty charts, but I've been collecting my cost per mile since aquiring the MME and I'm squarely at $0.035 per mile (with $0.10/kwh rates and no DCFC) overall including the cold. That's really not bad at all as opposed to my BMW X3 M40i which was at $0.18 per mile. Not including maintenance on either which would be drastically less on the MME.

 

[kgautam28]

What's the Annual operating cost?

 

[voxel]

This is handy comparing gas to electric costs.

https://chooseev.com/savings-calculator/

 

[jsteach]

https://insideevs.com/news/527165/study-evs-ownership-40percent-lower/

 

[RickMachE]

It's quite difficult for an individual to collect costs to compare. For example, one has to pay to install a charging circuit and buy a charger.

One thing that many miss, IMO, is the cost of TIME. Multiple components to that, including the time to charge on a trip as compared to gas refueling, and the time spent on keeping the car updated and learning about (like on this forum).

Our PHEV that we bought in 2018 was in the dealership ONCE in the first month to redo some fasteners. It never gain was in the dealership until a few weeks before sale to replace a USB hub. One oil change I did myself.

The Mach-E has been in the dealership multiple times in the 8 months of ownership, for software updates as well as the glass recalls.

The other point to make is that you cannot look at the cost of ownership of any period of time and then not keep the ownership until then. In other words, if at 5 years the EV becomes cheaper than the ICE, but you sell in year 4, then you had higher costs, not lower.

Lastly, at one point is the joy of owning and driving a vehicle more powerful than costs? If you want low cost of ownership, buy a small EV that costs less than 1/2 the price.

 

[AZBill]

Are you comparing cost of ownership, or cost of fueling? Cost of ownership includes the cost of purchasing the vehicle and the cost of maintenance. Since this is a government study and they want to push EVs, they are not providing a realistic estimate at all.

A better study would be to take two very similar cars, one ICE and one EV, and amortize the purchase cost over some period and then add in the recurring maintenance and fuel costs. At the end of ownership reduce that by the residual value, i.e. what you can get back by selling it. The cost of ownership will change depending on how long you keep your vehicle, that is true for ICE and EV. Owning it longer reduces the effect of the upfront cost, but increases the maintenance cost.

FYI, my wife has her own business and gets $0.56 per mile for standard deduction for vehicle usage. IRS does not differentiate between ICE and EV. Nor do they look at weight, size or mpg.

 

[Motomax]

Lots of factors to consider.

• Cost of fuel: gas vs electric
• Registrations: EV usually higher
• EV charging infrastructure for home use
• Purchase price: EV usually higher, new EV vs used Gas
• Tire replacement: EV wear tires faster
• Powertrain Maint: Oil changes $20-$40 per 10k miles for new gas
• Powertrain Major service: 50k miles ish, maybe couple hundred if you can’t do your own work.
• Brakes: depends on driving habits. I’ve replaced the rear brakes only in my gas car with 130k miles so I call it a wash

I’m sure I’ve forgotten something. In my experience the only wining factor for an EV is fuel cost and convenience. I don’t buy the repair cost hype. Most modern has cars can go well into 100k miles without Powertrain repairs. The most expensive part I’ve replaced on my gas Powertrains were coil packs.

 

[Skelton]

One thing that many miss, IMO, is the cost of TIME. Multiple components to that, including the time to charge on a trip as compared to gas refueling, and the time spent on keeping the car updated and learning about (like on this forum).

I suspect it's less that people accidentally overlook it, but accept there's not much practical way to capture your total time investment with accuracy.

If you're going to make a lot of long trips, you need to be very cognizant of what that means in your EV. If you're primarily tooling around town, I don't see the effort making sense. While charging will take longer on your trips, you'll save time not having normal fill-ups and additional service needs.

At a certain point you're spending hours to figure out how many minutes are lost, and I don't see it being worth it.

Lastly, at one point is the joy of owning and driving a vehicle more powerful than costs? If you want low cost of ownership, buy a small EV that costs less than 1/2 the price.

I couldn't agree more. I'm all for people wanting to understand their relative costs, but if absolute savings are your goal we don't need a calculator. This won't be the best financial decision, but it can be a reasonable one that's a lot of fun!

 

[Bishop]

No graphs or other pretty charts, but I've been collecting my cost per mile since aquiring the MME and I'm squarely at $0.035 per mile (with $0.10/kwh rates and no DCFC) overall including the cold. That's really not bad at all as opposed to my BMW X3 M40i which was at $0.18 per mile. Not including maintenance on either which would be drastically less on the MME.

Some good info. I appreciate it. That is what I keep seeing is that the MME has one of the lower cost of ownerships of EVs. I really love the new BMW i4. As a fellow BMW owner (I have a 528i too), I can only imagine how good the i4 will drive until I get to drive one (I have a test drive scheduled for 3/8). But am looking really hard at the MME vs i4. Tough decisions to be made.

This is handy comparing gas to electric costs.
https://chooseev.com/savings-calculator/

Thanks. This matches the spreadsheet that I've been using to compare. Over 5 years 10k in savings in fuel alone.

https://insideevs.com/news/527165/study-evs-ownership-40percent-lower/

Very interesting about Hybrids having the lowest cost of ownership. Will have to check into some hybrids as well.

One thing that many miss, IMO, is the cost of TIME. Multiple components to that, including the time to charge on a trip as compared to gas refueling, and the time spent on keeping the car updated and learning about (like on this forum).

I started looking at EVs, since I consider myself to be the Ideal EV owner (134 mile commute per day, 6-8+ year expected ownership, charge at home every night, and another ICE family vehicle for family trips). So, as far as time, I will only be saving fueling time since I'll never have to stop for gas.

Lastly, at one point is the joy of owning and driving a vehicle more powerful than costs? If you want low cost of ownership, buy a small EV that costs less than 1/2 the price.

This is honestly something I'm having a hard time justifying. I will be in this car A LOT (at least 300hrs per year). I'm usually a saver, so not just buying a 2016 Civic (the year they added car play and driver-assist features) or something similar has been hard. But at the same time, I love cars and technology, and the idea of getting something like a MME or BMW i4 has been thrilling. I still have no clue on which route I will take.

 

[TGIF]

This is handy comparing gas to electric costs.

https://chooseev.com/savings-calculator/

Love the link. Thank you.

 

[Nklem]

This is kind of long……..Sorry, I am an Engineer. This is a good rule of thumb for yearly operating costs. It’s not perfect but close.


I have not found an unbiased source I can trust for the true difference. All are biased and can make any number work for or against EVs. It depends on their agenda.

You can calc yearly operating cost yourself and just be weary of escalation because gas is escalating as well as electric power (My home power just went from $0.18 to $0.234/kWh). Just wait a few days….. Electric car insurance will be more too, nearly double the ICE cost but call your agent to compare. You should figure this into your calc.

Also if you are traveling a lot, DC Fast Charging, the cost is double or more what your home charging is. So If you plan on DCFast charging, figure your miles that you plan to travel and carry $0.40/kWh as a rule of thumb number for the cost.

Use the EPA as range for the EV. If in a cold environment for Winter, deduct 30% from that range to cover mid fall through mid spring cold weather losses. Basically divide the battery size by EPA range times total miles driven (two calcs summer and winter ) times your home electrical energy cost.

Use the EPA fuel economy for the gas car. That’s your fuel basis.

For the ICE it is simply the cost of gas divided by the combined EPA economy times the miles per year plus oil changes ($80 each at the dealer)

The service difference is really Oil Changes. If not keeping the ICE for 3 or more years figure 10,000 miles. If you want it to last longer, figure 5,000 miles. Those costs are going up too.

Yes, EV brakes last longer but also need cleaning and lube services often as they are not used much so I would negate brakes costs. Also tune ups are now 100k miles, negate as well. Negate tires, rotations, state inspections, wiper blades etc. it’s all the same.

Maine: Electricity is $0.234/KWH and Gas will be $4 per gallon soon. Change to your locale’s numbers. I used 10,000 miles warm and 5,000 miles cold.

For me, with a Mach E Premium ER in Maine, that calculation is 88kw/270 miles*10000 miles*$0.234/kw + 88/270*5000*.234*70% (winter factor)=$1307.43 per year. Or $0.087/mile

For comparison, a 2022 Honda Accord with 32 combined MPG, and $4. Per gallon for gas plus 3 oil changes@$80 each is $4/32MPG*15000 miles plus $80*3=$2115 per year. Or $0.141 per mile.

You can escalate gas if you want to, $0.50/year is not unreasonable.

For another comparison, a hybrid that gets 45 MPG, and $4 gallon, same oil changes etc. is $1573 per year. Or $0.104 per mile.

You could also figure your excise tax and registration difference etc. I would Benchmark the Mach E against a comparable $50K BMW, Audi or similar cost car The Honda will be cheaper.

For me this calculation is not why I bought an EV. Basically, 80-90% of my energy is free from work, so my operating cost is truly only $30-$40 per month, so $360 to $500 per year. With that savings, I could spend a little more on the EV and have a lot of fun not paying for gas.

Many states have less expensive power (Florida) , some have more (Connecticut), Some have cheap gas (Texas) some have expensive (CA and Hi). I do not know where you are from, but you can plug in your own numbers for a good idea. Also insurance varies per State. CA is double Maine’s rates but my Mach E’s insurance is twice the cost of a new Jeep in Maine.

Yes you can factor in depreciation if you want. Message me if you want me to help you calculate anything or build you a spreadsheet.

Finally, not going to a gas station for several months is great!

 

[Nklem]

This is kind of long……..Sorry, I am an Engineer. This is a good rule of thumb for yearly operating costs. It’s not perfect but close.


I have not found an unbiased source I can trust for the true difference. All are biased and can make any number work for or against EVs. It depends on their agenda.

You can calc yearly operating cost yourself and just be weary of escalation because gas is escalating as well as electric power (My home power just went from $0.18 to $0.234/kWh). Just wait a few days….. Electric car insurance will be more too, nearly double the ICE cost but call your agent to compare. You should figure this into your calc.

Also if you are traveling a lot, DC Fast Charging, the cost is double or more what your home charging is. So If you plan on DCFast charging, figure your miles that you plan to travel and carry $0.40/kWh as a rule of thumb number for the cost.

Use the EPA as range for the EV. If in a cold environment for Winter, deduct 30% from that range to cover mid fall through mid spring cold weather losses. Basically divide the battery size by EPA range times total miles driven (two calcs summer and winter ) times your home electrical energy cost.

Use the EPA fuel economy for the gas car. That’s your fuel basis.

For the ICE it is simply the cost of gas divided by the combined EPA economy times the miles per year plus oil changes ($80 each at the dealer)

The service difference is really Oil Changes. If not keeping the ICE for 3 or more years figure 10,000 miles. If you want it to last longer, figure 5,000 miles. Those costs are going up too.

Yes, EV brakes last longer but also need cleaning and lube services often as they are not used much so I would negate brakes costs. Also tune ups are now 100k miles, negate as well. Negate tires, rotations, state inspections, wiper blades etc. it’s all the same.

Maine: Electricity is $0.234/KWH and Gas will be $4 per gallon soon. Change to your locale’s numbers. I used 10,000 miles warm and 5,000 miles cold.

For me, with a Mach E Premium ER in Maine, that calculation is 88kw/270 miles*10000 miles*$0.234/kw + 88/270*5000*.234*70% (winter factor)=$1307.43 per year. Or $0.087/mile

For comparison, a 2022 Honda Accord with 32 combined MPG, and $4. Per gallon for gas plus 3 oil changes@$80 each is $4/32MPG*15000 miles plus $80*3=$2115 per year. Or $0.141 per mile.

You can escalate gas if you want to, $0.50/year is not unreasonable.

For another comparison, a hybrid that gets 45 MPG, and $4 gallon, same oil changes etc. is $1573 per year. Or $0.104 per mile.

You could also figure your excise tax and registration difference etc. I would Benchmark the Mach E against a comparable $50K BMW, Audi or similar cost car The Honda will be cheaper.

For me this calculation is not why I bought an EV. Basically, 80-90% of my energy is free from work, so my operating cost is truly only $30-$40 per month, so $360 to $500 per year. With that savings, I could spend a little more on the EV and have a lot of fun not paying for gas.

Many states have less expensive power (Florida) , some have more (Connecticut), Some have cheap gas (Texas) some have expensive (CA and Hi). I do not know where you are from, but you can plug in your own numbers for a good idea. Also insurance varies per State. CA is double Maine’s rates but my Mach E’s insurance is twice the cost of a new Jeep in Maine.

Yes you can factor in depreciation if you want. Message me if you want me to help you calculate anything or build you a spreadsheet.

Here is what I got from the link given above.... It does not factor in oil changes or EV seasonal differences (Its exactly what I calculated above without those factors) but if your in Sunny CA, it's close. Thanks for the quick link.

 

[J-orange]

There are other ancillary maintenance that should be performed on ICE and EV.
ICE;
Transmission fluid exchange every 3yr./50,000 miles if you want it to last
Coolant replacement every 3-5 years
Engine air filter
Cabin air filter if applicable
Diff fluid if applicable
Brake fluid and pads/rotors replaced depending on multiple variables
Synthetic oil change every 5k miles or every 6 months regardless of mileage accumulated in 6 months
Tires replaced after x amount of time or mileage

EV;
Coolant replaced every x amount of time
Brake fluid replaced after x amount of time
Brake pads and rotors replaced typically on a longer interval, highly variable
EV specific Tires replaced more frequently than ICE and cost more per tire
Cabin air filter
Some EV motors should have lubrication oil replaced on a interval (more research on my part is necessary)

In summary, the costs of maintaining an EV are less than a ICE from what I have been able to ascertain.

 

[ab13]

I don't think you can look at "average" to make comparisons, you have to look at specific models. There would be a difference between a Tesla and a Nissan Leaf, just as there will be a difference between a Honda and a BMW.

You might find data in the cost of prepaid service plans, where you can pay for a few years of service ahead of time. This can give you an idea of those costs you may be looking for. This article doesn't have those costs, but has a chart of "average" maintenance cost of brands.

https://www.motor1.com/reviews/410704/ford-maintenance-cost/

Here is a list of Ford plan costs.
https://www.floodfordesp.com/premium_maintenance.php

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