EV commercials

Over how many miles are those fuel savings calculated? I ask because I have spent about $2,100 in gas over 3 and a half years. Now granted a 39 MPG hybrid. But you are preaching mostly to hybrid owners at least here.

Bet they are including light vehicles as in trucks.

 

It's against a fleet average of ~25mpg.

 

Hmmmmm....
My costs per mile seem to be about $.1304 - although it's early so my math might be a little off.
($2.94 for fuel rounded up to $3 and 23mpg)

The Googles say Teslas cost roughly a third of that ($.045)

I 'did the math' elsewhere using kbb.com presumptions and I was shocked at the (their) very sharp depreciation values for the T3 over an old-school GMC pickemuptruck.
They didn't reach parity at the 5 year mark because the operating cost deltas are pretty stark.

It will be interesting to see what happens over the next few years.......

 

Agree that you have to be very careful when you do the Return on Investment for an EV.
Many members here have commented it is much cheaper to run a gas vehicle in their state compared to an electric vehicle.

On EV's it is important to realize that the purchase price is just the entry fee - then add on a home charger and the installation + possibly lower resale value + much higher initial purchase price than a gasser (except the Bolt and Leaf - two outstanding EV's for the common person) and the equation really starts to become skewed.

I expect if you had a utilitarian Corolla Hybrid getting 55 mpg with its ironclad reliability and resale value the pay back on switching to an EV would be about the 3rd day in the 4 month of never never land.

I own a Hybrid PHEV and have nothing against them or EV's. Our state has very cheap electricity and that figured into our buying decision.
Our PHEV would be considered one of the cheaper lower end offerings - a saving grace for it is its 50 mpg when it switches over to gas and at the time its $4,500 purchase rebate.

 

if a base model 3 cost me $31,000. before tax, what would 'sharp depreciation' make it worth in 3 years and 36,000 miles?

 

Or, don’t add on a home charger because the cost of a home charger is included or it is already there, subtract the higher resale value, and much lower initial purchase price.

Yes, all the items could fall the way you said, or none of them.

 

Fuelly says (except for the first tank costs and maybe 150 miles from the dealer delivery which it throws away (short because I happened to hit a spectacularly priced gas station)), my Rav4 hybrid not-plug-in costs 7.0 cents in fuel costs per mile over its first 31k ish miles. I have two cars in the family, live 5 miles from the small city, 50 from the grands. That is what makes it hard to justify for me.

Now if I were to need a replacement and there was a car of equal utility, my choice now would be different.But that would mostly be based on want. I love new toys but I use a cheap 4 year old phone, my computer is maybe 5 years old, refuse to pay the Apple tax or the cost of chasing things I don't need. Except I watch sports on a 75" screen. To each his own priorities.

 

Fuelly says (except for the first tank costs and maybe 150 miles from the dealer delivery which it throws away till I happened to hit a spectacularly priced gas station), my Rav4 hybrid not-plug-in costs 7.0 cents in fuel costs per mile over its first 31k ish miles. I have two cars in the family, live 5 miles from the small city, 50 from the grands. That is what makes it hard to justify for me.

Now if I were to need a replacement and there was a car of equal utility, my choice now would be different.But that would mostly be based on want. I love new toys but I use a cheap 4 year old phone, my computer is maybe 5 years old, refuse to pay the Apple tax or the cost of chasing things I don't need. Except I watch sports on a 75" screen. To each his own priorities.

 

Couldn't find a comparison that included the 2023 Prius Prime Price so used the 2022. Tesla is slashing prices to stimulate sales now so not sure what a 2023 cost but :

If you look at the MSRP the:

2022 Prius = $28,770
2022 Model 3 = $57,990

Unless we figure in an alternate universe no one would ever recover the almost $30,000 price difference in the life of the vehicles.

Don't know a lot about Tesla's as they are out of our price range and don't fit our needs so on the website I picked the 1st one on the drop down box. Also don't know if they are currently running fire sales on their 2023 inventory.

The difference in initial price is what needs to come down as the price of gas compared to the price of electric varies wildly regionally and makes a different ROI on fuel cost a geographical area financial decision.

Again I own a PHEV and like them and also like EV's.

For many of us managing money Return on Investment it a trump card in most financial equations unless there is a compelling personal, health, social factor etc involved. If EV's ever switch the dynamic where they are the best buy and make the most financial sense- Kaitie bar the door - people will flock to them. Everyone likes to save money and at least in the circles I run in can do the basic math to find the best deal and best fit for their family.

 

With local gas today at $2.859 per gas buddy the numbers get worse.

Of course many will say the MY adds features they value and that would be true. Where I go try and buy a SUV prime or a MY, the MY today could actually be cheaper than the prime. Then you load them up. Add dealer markup/profit/gouging in many cases, availability.

My well equipped equivalent SUVs turned into Tesla $57k Toyota $53k.

Wait how did the Tesla advertised at as low as $31k get to $56k?

Tesla.com. Add a white color, add a light interior, keep the standard wheels, add LR 4WD, add mid level assisted driving, add the chargers, no towing. Ignore the tax savings.

The Toyota...just picked the only local XSE available within the month from a distributors list.

Stick with basic and low end versions and the basic hybrid and 2WD and the buying costs change drastically.

 

It didn’t. No one is selling a 2022 Tesla Model 3 for $57k. FuelEconomy.gov appears to have gotten some bad info, or there is more behind the scene.
Or, if you go back in time to the peak of the pandemic, when prices were high, supplies were short, and Dealerships were inflating prices by a lot, and perhaps the Model 3 was not only long range, but a performance version.

 

I seem to remember my otd price for a T3 as being $42k

 

before tax credits.

right now, i could grab one out of inventory for 29k

 

Ah but my category was SUV/CUV/Wagon.

I have to have the family hauler. 5 passengers 50 miles, bags of yard waste, trash, big dog, 4 guys and golf bags. And fit a basketball forward and an football lineman. And I choose the trim levels that I would buy and the features I would want without going crazy. Thus the mid-level assisted and the head-up display are attractive if differently available. Some things you can't avoid that I wouldn't want like the moon roofs but they are either standard or in packages with something I'd want.

 

Typical end of model run sale. Boost the quarterly/year earnings, boost the stock, keep morale high.

Best time to buy was always last day for quota, at night, in the rain or snow, just before closing. Amazing the attention you would get. Starting out for my family I'd buy the last stock they had left ... like I did recently with my wife's hybrid Avalon. No longer made but should be supported as long as she will be driving. Hybrid $3,500 from MSRP discount in the midst of the gas crunch...who would have thought.

Waiting to see the update on the 4+. Wonder when for the Y?

 

Typical end of model run sale. Boost the quarterly/year earnings, boost the stock, keep morale high.

Best time to buy was always last day for quota, at night, in the rain or snow, just before closing. Amazing the attention you would get. Starting out for my family I'd buy the last stock they had left ... like I did recently with my wife's hybrid Avalon. No longer made but should be supported as long as she will be driving. Hybrid $3,500 from MSRP discount in the midst of the gas crunch...who would have thought.

Waiting to see the update on the 4+. Wonder when for the Y?