Three times lower cost of EV service than ICE after 36 months
One of the many advantages of electric vehicles over their ICE counterparts with much more moving parts is their simplicity. We’ve heard for many years that an EV is more affordable to maintain and maintain compared to the ICE, but EVs are still fairly new to the market and that hasn’t really been studied – in some cases. , they are even more expensive to service, especially the first year.
But now there’s a new study that announces what we already knew and expected: servicing an EV is, in fact, cheaper than the ICE, especially by the time a vehicle hits the 36-month mark. – this still does not exclude that it is more expensive in the first year, but the study indicates that at the end of the third, it will be up to three times cheaper. Automotive News published the results of a study conducted by Deepview True Cost, indicating that
Electric vehicle owners spend an average of $ 123 for maintenance when their car is three months old and an average of $ 306 when their car is one year old. Gasoline vehicle owners spend $ 53 and $ 189, respectively, at these same stages. At three years, the situation is reversed: maintaining an electric vehicle costs an average of $ 514 and maintaining a gasoline vehicle costs an average of $ 749.
The source also quotes James Davies, CEO of We Predict, who added that
Data shows that maintenance costs are lower and that servicing an electric motor in the medium to long term is significantly cheaper and requires fewer larger repairs than ICE motors.
This comes against the backdrop of steadily rising service costs for new vehicles – the average cost, according to IHS Markit, increased 11% for a 2018 model year vehicle compared to 2016, to reach $ 731 for the first 36 months. For high-end vehicles, the difference between the 2018 and 2016 model years is even greater, 18%, or $ 1,513 for the first three years.