Electric Cars: The True Cost Per Mile vs Its Advertised Claim

Here’s the skinny.

What’s the True Cost Per Mile of an Electric Car?

Electric car owners can expect to see a cost per mile of around $0.20 compared to the $0.30 of traditional gas-powered cars. This is due to the fact that electric cars don’t require any fuel, and the electricity to charge them is much cheaper than buying gas. However, when factoring in taxes, registration fees, and other additional costs associated with an electric car, the true cost per mile will vary. This is why it’s important to analyze all factors when determining the true cost per mile.

Advertised Claim of Electric Cars?

The advertised claim of electric cars is that they are budget-friendly and have low cost per mile. Manufacturers often state that their electric cars have a cost per mile of $0.10, which is much lower than the actual cost. This is done in order to make their vehicles more attractive to the public. Unfortunately, the actual cost per mile of electric cars is much higher than what’s advertised.

Reasons for the Disparity?

• Cost of electricity – The cost of electricity can vary greatly depending on the area. This means that the cost of charging an electric car can also vary. The cost of electricity also changes depending on the time of day, so electric car owners must be aware of how much they are spending.
• Cost of maintenance – Electric cars require special maintenance and repairs that come with a cost. This includes new batteries, brake pads, and other replacement parts. This can drive up the cost of ownership.
• Cost of insurance – Insurance for electric cars is generally more expensive than traditional cars. This is because electric cars are considered more of a risk, and insurance companies have to account for this.
• Other associated costs – Electric cars also have additional associated costs such as registration fees, taxes, and other charges. These costs can add up quickly and, when added to the already higher cost of electricity, can make the cost per mile much higher than what’s advertised.

Bottom Line:

Electric cars are becoming increasingly popular due to their eco-friendly design and cost savings over traditional gas-powered cars. However, the advertised cost per mile of electric cars is not always accurate. When factoring in additional associated costs and maintenance, the true cost per mile of an electric car can be significantly higher than the advertised amount. For this reason, it’s important to do research and analyze all factors before making a purchase.