New AAA Study On Electric Cars


Power cord in gas tank
Photo Credit: AAA
A new electric vehicle study is out from American Automobile Association. It looks at a number of interesting things like cost of EV ownership, the biggest concerns owners have and whether EV owners would buy an electric vehicle again.

Overview

AAA researchers say that over five years and 75,000 miles of driving, the annual cost of owning a new compact electric vehicle is only slightly more expensive – about $600 annually – than its gas-powered counterpart. The study also revealed that the experience of owning an electric vehicle eases one of the biggest fears associated with these cars – range anxiety.

EV Owners Biggest Concerns

According to AAA’s survey, prior to owning an electric vehicle, a majority of owners (91%) said that they had at least one concern – things like insufficient range, implications for long-distance travel and finding a place to charge. Post purchase, many of these worries disappeared. AAA believes that if consumers have a better understanding of the real cost and experience of owning an electric vehicle, then the gap between expressed interest and adoption will begin to close.

“Although 40 million Americans have shown interest in buying electric for their next car, actual adoption is happening at a much slower rate,” said Greg Brannon, AAA’s director of Automotive Engineering and Industry Relations. “AAA wanted to understand what kind of impact the experience of owning an electric vehicle has on perception of these cars and maybe more importantly, if given the chance would consumers choose to go green again.”

Current EV Owners

AAA’s survey of electric vehicle owners, 71% of whom had not previously owned an electric car, revealed some interesting results:

  • The majority (96%) say they would buy or lease another electric vehicle the next time they were in the market for a new car.
  • Two in five (43%) say they drive more now than when they owned a gas-powered car. On average, electric vehicle owners drive 39 miles per day.
  • Three quarters (78%) also have a gas-powered car in the household, yet they report doing a majority of their driving (87%) in their electric vehicle.

Perhaps the most surprising result of the survey was the impact ownership has on commonly-held fears about electric vehicles, particularly those that have deterred consumers from making the leap to green. Previous AAA research has found that the top two reasons why Americans shy away from electric vehicles are not enough places to charge (58%) and the fear that they will run out of charge while driving (57%). Almost all owners surveyed (95%) report never having run out of a charge while driving and on average, they do three fourths (75%) of their charging at home. Likely as a result, those who were originally concerned about insufficient range said they became less or no longer concerned post-purchase (77%).

“Range anxiety has been synonymous with electric vehicles from the beginning,” said Brannon. “Hearing firsthand from owners that this is no longer a worry may change the mind of those who have otherwise been skeptical to the idea of owning an electric vehicle.”

EV Cost Breakdown

Employing the same methodology used for its annual Your Driving Costs study, AAA calculated the costs for owning a new compact electric vehicle as compared to that of its gas-powered counterpart. Although the study found that overall cost of electric vehicle ownership is 8% more per year, individual categories such as fuel and maintenance/repair are lower.

  • Fuel – the electricity required to drive 15,000 miles per year in a compact electric vehicle costs an average of $546, while the amount of gas required to drive the same distance costs $1,255 (or 130%) more.
  • Maintenance/Repair/Tires – electric vehicles do not require as much maintenance as gas-powered ones since they don’t need oil changes or air-filter replacements. If maintained according to the automakers’ recommendations, electric vehicles cost $330 less than a gas-powered car, a total of $949/annually.

The costs of vehicle ownership, whether electric or gas-powered, is a personal choice that should take many factors into consideration.

For more on vehicle ownership costs check out our advice article Budgeting How Much Car Can You Afford.
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