A new study by We Predict finds that in the first three years of ownership, the actual cost to maintain and repair an electric vehicle is $235 less than traditional vehicles. This equates to a 30% difference in those costs vs conventional vehicles. Interestingly, it takes the full three years for the advantage to take effect.
The study found the following:
- At three months in service, EVs average service costs of $123; gas vehicles average $53. (EVs are 132% more)
- At 1 year in service, EVs average $306 in service costs per vehicle; gas vehicles $189. (EVs are 62% more)
- At 36 months on the road, EV service costs average $514; gasoline vehicles average $749. (EVs are 31% less)
These costs are not just consumer costs. Rather, the costs include what manufacturers and dealers pay as well. The EVs included the Ford Mustang Mach-E, which had the lowest actual cost over just three months (not years) at just $93. By contrast, the Jaguar I-PACE has a cost at that time period of $834, and the Porsche Taycan of $667.
What are these incurred costs? We Predict provided the following breakdown of where the costs in the first three years come from:
EVs have fewer mechanical parts than gasoline vehicles. One promise that EVs hold for buyers who have not yet made the switch away from liquid-fueled vehicles is that they have a significantly lower cost to maintain and repair. While nobody argues against the idea that EVs should be lower in cost to maintain and repair, are the savings meaningful? One interesting finding is that some gas-powered vehicles have a cost much lower than the average for EVs. For example, the three-year cost of maintenance and repair for the Mazda Miata is $275. About half the $514 an average EV costs.
Removing repairs and focusing only on the maintenance side, the incurred costs are hard to call significant. The study found that electric vehicles’ three-year average maintenance costs were $77/vehicle and that conventional vehicles had an average cost of $228/vehicle.
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Virtually every automobile sold in America is under its bumper-to-bumper warranty for the first three years of typical usage. That means that consumers rarely pay much for repairs during the first three years. In addition, many brands cover the cost of maintenance for some number of years after a new vehicle is purchased. For example, Jaguars come with five years of included maintenance, Hyundai vehicles for three, and Toyota for two. In each case, the costs are covered regardless of the type of powertrain. The truth is, the maintenance and repair costs of a new vehicle in the first three years are almost meaningless by comparison to depreciation, insurance, and energy costs. For many consumers, the cost is zero. To be clear, we are not including crash damage costs here. That is not what the industry term maintenance and repairs refers to.
Manufacturers and dealers do incur costs during this period. The dealer costs are then repaid by the manufacturers. We communicated with the producers of the study and asked them to clarify what the typical repairs include. Using EVs as the example, Renee Stephens, VP of Automotive at We Predict provided this breakdown of the data:
- Fifty-three percent of the $514 EV service cost comprised labor expense and forty-seven percent were part cost.
- Splitting the costs down, the majority was for repairs ($301), $136 was spent on campaigns, and $77 on maintenance.
After the initial warranty and included maintenance period of three years, vehicle costs begin to shift directly to the vehicle owner. Consumer Reports did a full report on the longer-term cost differences for maintenance and repairs between vehicles with various types of powertrains. The surprise result was that plug-in hybrid-electric vehicles were virtually tied with EVs (actually ahead slightly) and that both had a meaningful long-term advantage over traditional designs.
You can view more about the study on the We Predict summary page. Does the study’s findings that EVs have a $235 advantage over conventional vehicles surprise you, or confirm your assumptions and experiences? Tell us in the comments below.
John Goreham is a long-time New England Motor Press Association member and recovering engineer. John's interest in EVs goes back to 1990 when he designed the thermal control system for an EV battery as part of an academic team. After earning his mechanical engineering degree, John completed a marketing program at Northeastern University and worked with automotive component manufacturers, in the semiconductor industry, and in biotech. In addition to Torque News, John's work has appeared in print in dozens of American news outlets and he provides reviews to many vehicle shopping sites. You can follow John on TikTok @ToknCars, on Twitter, and view his credentials at Linkedin
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