VW electric car sales plunge: Why are Europeans returning to petrol?
April 11, 2024
By Angela Barnes Sales of Volkswagen electric vehicles in Europe fell by almost a quarter in the first three...
French Research Organization IFP Says Plug-In Hybrids Make Economic Sense Right NowFrench Research Organization IFP Says Plug-In Hybrids Make Economic Sense Right Now
According to the French research organization IFP, making lithium-ion powered hybrids makes economic sense right now for both the carmaker and the buyer.
The research company came to this conclusion after extensively researching a true cost of ownership over the lifetime of a vehicle. Their comparisons show that lithium-ion plug-in hybrids do not cost significantly more over the entire life of the vehicle.
For the comparison, they pitted a compact diesel against a 16 mile electric only range plug-in hybrid. The diesel came in at $21,500 to purchase. Adding the cost of fuel and maintenance over the 124,000 mile life of the vehicle would result in a total out of pocket expense of $41,523.
The plug-in they choose is a hypothetical vehicle that achieves a 16 mile electric only range before using gasoline. The battery pack for this vehicle adds $8,591 in up front costs to bring the purchase price to $30,091. The fuel (some of which is electricity) and maintenance costs bring the total out of pocket expense for the life of the vehicle to $42,953.
The difference in costs for the two vehicles is a paltry $1,430. Quite insignificant when spread out over say 10 years, adding an additional expense of only $143 per year.
Maybe automakers will take notice and move production schedules up for plug-in vehicles. If car buyers are aware of the true ownership costs, they may be more willing to spend additional money up front.
Source: Wards Auto (Login Required)
View original artcle at: “https://www.greencarreports.com//news/1021840_french-research-organization-ifp-says-plug-in-hybrids-make-economic-sense-right-now”
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