Electrified Vehicle Cost of Ownership
Look Beyond the Price at the Pump—or Plug
Purchase price is only one part of what a vehicle costs.
Gasoline, electricity and maintenance continue long after you leave the dealership. That's why comparing an electrified vehicle with a gasoline vehicle means looking at what it costs to drive, not just what it costs to buy.
Electrified Vehicle Ownership FAQs
How do Hybrid, Plug-In Hybrid and EV ownership costs differ?
Think of it simply:
Hybrid: You still buy gasoline, but typically use less of it.
Plug-In Hybrid: The more everyday driving you complete on electricity, the less gasoline you may use.
Battery EV: You buy no gasoline, but you pay for electricity to charge the vehicle.
Each has different maintenance considerations as well.
What could gasoline versus home charging actually look like?
Consider someone commuting 25 miles each way, five days per week.
That's approximately 13,000 commuting miles per year.
What maintenance does a Battery EV eliminate?
No gasoline engine means no:
- Engine oil changes
- Engine oil filters
- Spark-plug replacement
Think less engine-related maintenance, not maintenance-free.
What about Hybrid and Plug-In Hybrid maintenance?
Both still have gasoline engines, so they still require appropriate engine maintenance.
The difference is how they use fuel.
A Hybrid uses electric assistance to reduce gasoline consumption. A Plug-In Hybrid gives you the additional opportunity to complete some everyday driving using electricity instead of gasoline.
Doesn't installing a charger offset those savings?
It can be an additional upfront expense, so it should absolutely be included in the comparison.
But so should the expenses on the other side.
If you spend money installing home charging, compare that one-time expense with the gasoline and potentially some maintenance expenses you may avoid over several years.
Look at the whole ownership equation-not just the charger.
