The price of electric vehicles is a major obstacle to their growth in North America. After all, one of the first things new car buyers want to know is: How much does it cost? However, it's not all about MSRPs and monthly payments; when it comes to electric cars vs. traditional cars, ownership costs are just as important.
Vehicle price
Of course, comparing a similarly equipped, gasoline-powered Ford Focus ST with a Ford Focus Electric is quite shocking: The former retails for $31,649, while the latter starts at $42,849 -- a difference of $11,200!
But hold on: Once you subtract the government incentives and add the purchase of a 240V domestic charging station, the gap drops to just $4,641.
Now, consider the green car rebate offered by several insurance companies (approx. 20% at Desjardins), cut total maintenance costs in half, and most importantly, factor in all the money you'll save by never stopping at a gas station, and you'll realize how buying an electric car makes a lot of sense!
Repair costs
Should you really expect to cut maintenance and repair costs in half when opting for an electric vehicle? At least that's what the U.S. Postal Service did when it devised an electrification plan for its delivery fleet. A pilot project with 6 vehicles actually produced savings of 54%.
How can you explain that? Well, as you know, electric cars get rid of a bunch of components -- engine and related parts, transmission, exhaust system, etc. -- so you will never have to pay to repair them.
The more you drive, the more you save
By choosing a Focus Electric instead of a regular Focus ST, you could save enough money after 2 years to go on a tropical vacation. Not convinced? Let's do a bit of calculation...
With an annual average of 20,000 kilometres, a Ford Focus that achieves 8.5L/100km will cost $2,346 in gas (at the current price of $1.38/litre). Add the insurance premium of $1,126 at Desjardins (for a typical 30-year-old female driver from Montreal with a spotless driving record) and regular maintenance costs of about $1,000, and you get a total ownership cost of $4,472 a year.
Now, with the Focus Electric, driving the same 20,000 kilometres will cost $239 (at the current rate of $0.08/kWh), the insurance premium drops to $875, and maintenance at $500. Total ownership cost: $1,614.
Considering the aforementioned price difference of $4,641, by saving $2,858 a year with the electric car, it will take you just 19 months to get your money back!
Source: CAA
electricvehicles.caa.ca/electric-vehicle-cost-calculator/
Vehicle price
Of course, comparing a similarly equipped, gasoline-powered Ford Focus ST with a Ford Focus Electric is quite shocking: The former retails for $31,649, while the latter starts at $42,849 -- a difference of $11,200!
But hold on: Once you subtract the government incentives and add the purchase of a 240V domestic charging station, the gap drops to just $4,641.
Now, consider the green car rebate offered by several insurance companies (approx. 20% at Desjardins), cut total maintenance costs in half, and most importantly, factor in all the money you'll save by never stopping at a gas station, and you'll realize how buying an electric car makes a lot of sense!
 |
| Ford Focus Electric (Photo: Ford) |
Repair costs
Should you really expect to cut maintenance and repair costs in half when opting for an electric vehicle? At least that's what the U.S. Postal Service did when it devised an electrification plan for its delivery fleet. A pilot project with 6 vehicles actually produced savings of 54%.
How can you explain that? Well, as you know, electric cars get rid of a bunch of components -- engine and related parts, transmission, exhaust system, etc. -- so you will never have to pay to repair them.
The more you drive, the more you save
By choosing a Focus Electric instead of a regular Focus ST, you could save enough money after 2 years to go on a tropical vacation. Not convinced? Let's do a bit of calculation...
With an annual average of 20,000 kilometres, a Ford Focus that achieves 8.5L/100km will cost $2,346 in gas (at the current price of $1.38/litre). Add the insurance premium of $1,126 at Desjardins (for a typical 30-year-old female driver from Montreal with a spotless driving record) and regular maintenance costs of about $1,000, and you get a total ownership cost of $4,472 a year.
 |
| Ford Focus ST (Photo: Ford) |
Now, with the Focus Electric, driving the same 20,000 kilometres will cost $239 (at the current rate of $0.08/kWh), the insurance premium drops to $875, and maintenance at $500. Total ownership cost: $1,614.
Considering the aforementioned price difference of $4,641, by saving $2,858 a year with the electric car, it will take you just 19 months to get your money back!
Source: CAA
electricvehicles.caa.ca/electric-vehicle-cost-calculator/