New analysis from Atlas Public Policy finds electric cars and trucks can cost less than some of the most popular vehicles in the U.S., including the Ford F-150, which had been America’s best-selling vehicle for 43 years in a row. The analysis includes the latest data on vehicle purchase price, maintenance and fuel costs, taxes, fees, and depreciation in order to create a total cost of ownership comparison between electric and gas-powered vehicles.
The analysis includes comparisons of electric and gas vehicle costs across four vehicle classes; SUVs, pickups, low-cost sedans, and mid-cost sedans. This data goes a step further than previous total cost of ownership studies, which examined costs across vehicle classes, but not individual vehicles.
The analysis finds the total cost of owning the forthcoming electric version the Ford F-150 (the F150 Lightning) is 17 percent lower than the gas-powered version, the cost of the electric Volkswagen ID.4, an SUV, is 15 percent less than the Honda CRV, a Tesla Model 3 costs almost 5 percent less than a similar Lexus, and the Chevy Bolt costs 6 percent less than a Toyota Corolla.
Transportation remains the largest source of climate pollution in the U.S., and vehicle-related pollution continues to cause higher rates of asthma, cancer, and premature death in communities near major roads, transit hubs, and travel corridors.