Electric cars and trucks can still cost thousands of dollars less to own than the most-popular gasoline vehicles in the United States. Our latest 2025 fact sheet compares the seven-year cost of owning the top-selling 2024 gasoline models with their closest electric counterparts in five segments — compact sedans, sedans, compact SUVs, mid-size SUVs, and pickups.
What’s new in this edition:
- Updated 2024 vehicle prices and model line-ups.
- 2024 retail electricity and gasoline prices (EIA).
- Updated insurance inputs for gas cars and EVs using AAA’s Your Driving Costs study.
- We also modeled a “policy-risk” scenario: repealing the $7,500 federal clean-vehicle credit and adding a $250-per-year national EV registration fee. Under those conditions the Equinox EV’s seven-year savings drop from approximately $9,000 to around $200. Despite the removal of tax credits raising the upfront cost of EVs, two of the five electric models (Equinox EV and Model Y) still show higher savings than their gasoline counterparts.
See the previous iteration of this fact sheet here.
This fact sheet was supported by the Natural Resources Defense Council.
