Huh... EVs cost more to service than ICEs

[jswordy]

In the first three months of ownership, We Predict data analysis company found EVs to cost 2.3 times more to service than ICE vehicles.
There are many advantages EVs have over internal combustion engine vehicles, and one of them is less stress related to things that could go wrong.

Since they have fewer moving parts, electric vehicles require less maintenance, and no owner has ever complained about that. But how do EVs perform when it comes to service costs? Well, that’s where the picture starts to change, at least according to new data from analytics firm We Predict.

The company says it costs more to service electric vehicles than their gasoline-powered counterparts, though the gap narrows over time. Data reveals that EVs were 2.3 times more expensive to service than ICE vehicles after the first three months of ownership.

If that seems worrying, you'll be more relieved to learn that after the first year, EVs become just 1.6 times more expensive to service. During the last nine months of the first year of ownership, maintenance costs were found to drop by 77 percent, while repair costs declined slightly. Of course, many of these service operations are covered by manufacturer warranties so the consumer won't take a direct hit.

Full story: Study: EVs Cost 1.6 Times More To Service Than ICEs The First Year

 

[Boatboy24]

Of course, many of these service operations are covered by manufacturer warranties so the consumer won't take a direct hit.

So these aren't actually service costs then, are they? I would put them under warranty claims.

 

[cmason1957]

So these aren't actually service costs then, are they? I would put them under warranty claims.

Nonetheless, they are a cost that has to be factored into the cost of the vehicle. Since someone is getting paid to fix them.

 

[Boatboy24]

Nonetheless, they are a cost that has to be factored into the cost of the vehicle. Since someone is getting paid to fix them.

Agree. And based on the prices of EV's they are.

 

[winemaker81]

Most discussions of EV fail to mention the total cost of ownership (TCO). When the purchase cost of a bottom end model is $40K+ USD, it shuts a lot of folks out, and then ongoing maintenance adds on top of that. At this time, EV are a luxury vehicle.

Before I purchased my Camry in 2015, I did a cost comparison between the Camry, Camry hybrid, Prius, and Prius hybrid. My pre-COVID commute was 70 miles/day, so cost is a big concern for me, and I factored in the higher purchase cost of hybrid cars.

Based upon gas prices at that time and my annual mileage, I figured that my break even point on the hybrid Camry was 7 years, e.g., at that point the cost of owning the hybrid would match the regular Camry. But the battery was warrantied for 7 years, so I'd had to face the potential cost of replacing a $4,500 part (cost at that time, probably less now). I generally keep cars 10 years, but the 7 year break even point killed my interest in a hybrid.

The Prius was more cost effective -- the break even point was only 5 years. But after test driving a Prius, I realized I didn't want one as it didn't fit my overall needs. Nope, I'm not picking on Prius' for the typical reasons -- the comfort level was less as was the cargo capacity. if I purchased one, I knew I'd regret it.

I told a friend that the hybrid was not cost effective for me, and he (green guy) said that cost was not a good reason for not buying a hybrid.

Oddly enough, he declined to subsidize my purchase.

Purchase price and TCO are critically important to me and to most people I know.

 

[bstnh1]

Hybrid batteries are 2 or 3 grand to replace. But the average cost to replace a fully EV battery is $5500. Neither is cheap!!

 

[jswordy]

Hybrid batteries are 2 or 3 grand to replace. But the average cost to replace a fully EV battery is $5500. Neither is cheap!!

Thing is, ya can't just keep good maintenance on the EV and get 325,000 miles out of it, either, like my old '91 Sentra ran before it got hit. When that battery goes dead, nothing is moving til you PAY UP! And the higher EV repair costs WILL come your way as an owner, unless you trade at warranty expiration – a very expensive way to own cars.

That's why I always thought a smarter alternative would be the versions that have a universal battery pack that is easily swappable, kinda the cordless drill type EVs. This is someplace where standardization would pay huge benefits. Need new juice? Swap it out. But those designs are not catching on with manufacturers. Why? 1.) The battery replacement costs would be on the power supplier then, not the car owner. 2.) There would be no proprietary battery configurations then. Profit center lost.

 

[hounddawg]

In the first three months of ownership, We Predict data analysis company found EVs to cost 2.3 times more to service than ICE vehicles.
There are many advantages EVs have over internal combustion engine vehicles, and one of them is less stress related to things that could go wrong.

Since they have fewer moving parts, electric vehicles require less maintenance, and no owner has ever complained about that. But how do EVs perform when it comes to service costs? Well, that’s where the picture starts to change, at least according to new data from analytics firm We Predict.

The company says it costs more to service electric vehicles than their gasoline-powered counterparts, though the gap narrows over time. Data reveals that EVs were 2.3 times more expensive to service than ICE vehicles after the first three months of ownership.

If that seems worrying, you'll be more relieved to learn that after the first year, EVs become just 1.6 times more expensive to service. During the last nine months of the first year of ownership, maintenance costs were found to drop by 77 percent, while repair costs declined slightly. Of course, many of these service operations are covered by manufacturer warranties so the consumer won't take a direct hit.

Full story: Study: EVs Cost 1.6 Times More To Service Than ICEs The First Year

pretty slick,
could you figure for me, the pro's and cons of ICE, EV compared to ToM's& W???
THANKS
Dawg

 

[stickman]

These days it's getting more difficult to know what to believe, people being paid to post certain things etc.

I was surprised to see this article about a $16,000 repair quote from Tesla regarding road hazard damage to the battery cooling fitting on a model 3. It was ultimately repaired for $700 by an independent repair shop, but the jury is still out on how long the repair will last.

https://www.msn.com/en-us/autos/ent...fix-is-why-right-to-repair-matters/ar-AAM3HMu

 

[balatonwine]

Most discussions of EV fail to mention the total cost of ownership (TCO). When the purchase cost of a bottom end model is $40K+ USD, it shuts a lot of folks out, and then ongoing maintenance adds on top of that. At this time, EV are a luxury vehicle.

Early cars at the turn of the 20th century with ICE were a luxury item. Radios when they came out were a luxury item. Televisions when they came out were a luxury item. Personal computers when they came out were a luxury item (I once paid $5,000 for a PC that had less computing power than one of today's cell phones costing less than $100).

Give it time. Things change. Time changes everything. Even good wines.

 

[hounddawg]

hum no magic math on my ToM&W= TEAM of Mules & Wagon, at least my rig eats only renewable grass and water with only methine Frats now and then,
Dawg