NY Times Upshot Cost Compares EVs vs. ICE Cars

By EVWorld.com Si Editorial Team

A new analysis from the New York Times Upshot reveals that electric vehicles (EVs) are now consistently cheaper to own and operate than gasoline-powered cars. This shift is driven by lower fuel and maintenance costs, improved battery longevity, and more stable resale values—making EVs the more economical choice for most American drivers.

Fuel and Maintenance Savings

EVs benefit from significantly lower fuel costs, especially for drivers who charge at home. Electricity per mile is far cheaper than gasoline, and EVs require less maintenance overall. With no oil changes, fewer brake replacements, and simpler drivetrains, the long-term upkeep of EVs is substantially reduced.

Battery Longevity and Resale Value

Modern EVs retain over 80% of their battery capacity after 8–10 years, alleviating concerns about long-term performance. Additionally, depreciation rates have stabilized, particularly for popular models like Tesla, Ford, and Hyundai, making EVs more competitive in the used car market.

Model Comparisons

• Ford F-150 Lightning vs Gas F-150: The EV version saves approximately $8,000 over 10 years.
• Hyundai Ioniq 6 vs Toyota Camry: The EV saves around $6,500 over a decade, even without tax credits.
• Tesla Model Y vs Honda CR-V: The Tesla is $5,000–$7,000 cheaper to own over 10 years, depending on charging habits.

Policy and Market Impact

Analysts from the Roosevelt Institute and the Department of Energy now consider EVs the “default economic choice” for most households. Automakers are responding by ramping up EV production—not just for environmental reasons, but because the financial case is now compelling. While charging infrastructure still varies by region, households with home charging enjoy the greatest cost advantage.

Conclusion

The Upshot article makes it clear: EVs are no longer a niche or speculative investment. They are a practical, cost-effective alternative to gas-powered vehicles. For most drivers, going electric is not just cleaner—it’s cheaper.

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