4 ms·

To be fair, that's because of a $7,500 rebate from taxpayers. Remove that and the economics completely change.

• rootusrootus 3y ago
  It extends it, sure, and if you only keep cars a few years it will be tough to get the economics to be favorable. As someone who buys a new fun car every 18 months, I recognize it's not a good economic choice. But my nearest neighbors buy a new Camry every 10 years, over and over, and the economics would be really great for them. Here is how the economics are working for me, using my most recent EV as an example: I've spent 197.24 on electricity since buying it, and driven 5428 miles. 127.82 of that was home charging, and 69.42 was spent supercharging. $0.036/mile. Local gasoline is $4.69/gal. A typical Camry hybrid gets 46 mpg overall and costs $0.101/mile. An average modern car is expected to go approximately 200K miles before being recycled. Over that time, assuming fuel prices do not change (they will, of course, but we don't know how that will play out), the Camry will cost an additional $12940 in fueling costs. The battery is warrantied for 8 years or 120K miles, and if it makes it that far without needing replacement then the odds are good it'll make it to the EOL of the car. Even if I had to replace it, by that point it'll cost less than how much I've saved on gasoline. Given the sheer number of Model 3s on the road right now, used battery packs 5-10 years down the road are going to be even more common (it's already easy enough to get used Model 3 packs on eBay for 5-7 grand). I like the economic outlook for EVs, and it just gets better every year.