There are a host of new and growing options at auto dealers when it comes to hybrids and electric cars, but if you've been following the headlines lately, the decisions made by major automakers reflect the market's tilt toward more hybrids than electric cars. Ford just announced that it is delaying its electric vehicle pickup and in the short term is focusing more on its hybrid lineup in North America.
“The electric car euphoria is dead,” with the idea of “consumer choice” making a comeback among car companies from Ford to General Motors, Mercedes-Benz, Volkswagen, Jaguar Land Rover and Aston Martin, all of which are scaling back or delaying their electric production. Vehicle plans. GM's electric vehicle sales remained thin last quarter.
But finding the best value for your money can be complicated. These decisions often depend on factors such as the initial cost, driving habits, how long you plan to own the car, potential costs over time, and even the region of the country you live in.
The answer isn't always clear even amid the loud news headlines. Here are some tips to help car buyers make the right decision.
Find out how much you drive
Before you start comparing costs, it makes sense to think about how you plan to use the car.
Do you only drive five or 10 miles to work and back every day, or do you plan to take the car on long road trips? If you frequently drive long distances, consider having fast charging stations along your route. Sandeep Rao, principal researcher at Leverage Shares, which offers fast-charging services, said that if fast-charging stations are rare, as is the case in many areas of the country, it may be better to get a hybrid service where you just stop at a gas station and continue. In leadership. Mutual funds including several focus on electric vehicle stocks and traditional automakers
The federal government's initiative to create a vast charging network across the United States has not yet been achieved on a large scale. Instead, the focus has been on pockets of the country such as California, the New York tri-state area, Florida and Texas, but the vast majority of people live between these places. “Most Americans don't have access to electric vehicles because there isn't enough charging infrastructure,” Rao said.
He also said to consider how long you plan to own the car, the potential service needs of the car and what nearby options exist for maintenance. Other factors include the setup of your home. Do you have the right conditions to charge an electric car quickly and easily? And what are the upfront costs of upgrading your system to allow faster charging, if desired?
Do the math based on the initial cost, compared to electric and hybrid vehicles
If you're still confused between an electric car and a hybrid, next consider the upfront costs.
The average price of the top 10 best-selling electric vehicles in the United States is about $53,758, with an average of $48,430 for the low-end version of each model and $64,936 for the upscale version of each model, according to Find My Electric. ,standalone EV market. The prices of these 10 electric cars range from $26,599 for the Chevrolet Bolt EV to $99,000 for the most expensive version of the Rivian R1S, according to its data.
By contrast, the average starting price for a hybrid is $33,214, according to iSeeCars.com, a car search engine. If you have specific models in mind, the Department of Energy offers a tool to compare up to four vehicles at once. You can also compare different models based on fuel efficiency
Look for available car rebates and incentives
If you're leaning toward an electric vehicle, but still find the initial cost onerous, look into potential discounts. There are subsidies from the federal government — up to a maximum of $7,500 — but qualifying for them has become more difficult as more manufacturers become ineligible, Rao said.
Also look for state and local incentives. Buyers can visit the Electric for All website, run by the nonprofit Veloz, to search for incentives such as vehicle tax credits and rebates, charging rebates, local utility incentive programs and other special driving perks for going electric.
“Depending on where you live, you may be able to walk away with an electric vehicle similar in price to a hybrid or internal combustion vehicle,” said Steve Christensen, executive director of the Responsible Battery Coalition, a nonprofit coalition of committed companies. Responsible battery management.
Consider the plug-in hybrid
Another option people could look at is a hybrid electric vehicle, which provides an attractive option for those moving from gas and diesel cars to battery-powered cars, Rao said.
The biggest differences between full hybrids and plug-in hybrids are the size, cost and purpose of their electric batteries, according to an online Q&A from Progressive Casualty Insurance Company. The hybrid electric battery can also be recharged at home or at a public charging station, while a full hybrid uses its gas-powered engine to recharge.
If you're considering a hybrid vehicle, the Department of Energy has a calculator that can help estimate allocated fuel use and costs based on your driving habits, fuel prices, and charging schedule.
Focus on the total cost of ownership, not just the upfront costs
In general, the initial costs of an electric vehicle will be higher, but you may still be better off over time.
For example, smaller electric cars, such as compact cars or sedans with a range of about 200 miles, break even with a conventional hybrid car of a similar size in five years or less, according to a recent University of Michigan study. And that's without incentives, said Maxwell Woody, a doctoral candidate at the University of Michigan and lead author of the study.
However, the study found that larger vehicles such as midsize SUVs, pickup trucks or other vehicles with a larger battery with a range of up to 400 miles do not break even with hybrids, even if incentives apply. 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 to decline, so electric vehicles overall will perform better in the near future, Woody said.
Doing the math on a plug-in hybrid car is more complicated because the cost of running the car can vary widely depending on how much it charges versus refueling with gas. If you run it all-electric for city driving, for example, your costs could be close to the cost of an electric car, Woody said. If you take it on long trips, refueling costs can be more similar to a gasoline-powered vehicle, he said.
When considering total cost of ownership, be sure to take maintenance costs into account, said Albert Gore, executive director of ZETA, an industry-backed coalition that advocates for full adoption of electric vehicles. He points to a study by Argonne National Laboratory that showed that scheduled maintenance costs per mile are much lower for electric vehicles than for conventional hybrids or plug-in hybrids.
Also be sure to compare apples to apples in terms of features, model, year, quality and use cases, Woody said. For example, someone considering the Nissan Leaf, which is all-electric, might look at comparable data for the Honda Civic Hybrid.
