![]() Here’s a good example of how unincentivized EVs fail to compete financially with their gasoline powered brothers. The PowerBoost running gear is the one to get in your next F-150 pickup truck, since its estimated monthly running costs are within a hair of the EcoBoost yet provides far more horsepower and torque, plus the ability to stretch its legs much further on a tank of fuel. Shop a Ford F-150 XLT 4×4 and an F-150 Lightningīack at Ford, our takeaway is not dissimilar to the revelation at Hyundai: the hybrid powertrain holds a massive amount of appeal. The latter seems to be a recurring theme with some brands, such as Nissan who recommends its Leaf get that service every two years. Still, only tire rotations and basic inspections (plus a cabin filter) are recommended in the Lightning’s owner’s manual as service items until the truck hits 60,000 kilometres, at which point the brake fluid needs to be changed. Difference is, of course, one is starting from a much smaller total range: less than half when comparing the all-electric Lighting to a hybrid PowerBoost. This author has spent ample time behind the wheel of a Ford F-150 Lightning, towing heavy trailers and hauling payload, and can say with confidence the percentage drop in range on the EV isn’t dissimilar from doing the same tasks in a gasoline-powered truck. The spectre of an all-electric pickup truck is no longer the stuff of fantasy or a notion at which to be snickered. We fearlessly predict Hyundai won’t be able to build enough of them. A large annual savings on fuel takes care of the rest and more besides, even if its estimated maintenance is on par with the N Line. While its asking price is thousands more than the gasser, a hearty battery capacity permits it to qualify for government largess, erasing most of the premium. Pushing further into three trips around the sun with your new ride, servicing costs – averaged over 36 months – are about a third for the EV compared to the gasoline-powered car.īut the real takeaway from this exercise is the appeal of Hyundai’s new PHEV powertrain in the Tucson. Both numbers are based on 20,000 km of driving per year at the unit prices noted above. Be sure to add that important expense to our notes when running your own numbers.Ĭompare these Hyundais in even greater depthĭigging deeper, the monthly payment difference of almost $200 per month quickly vanishes when fuel costs are factored at today’s prices. We did not include insurance costs since they vary wildly depending on driving history and the deal provided by your broker. Taxes and rebates are correct for the jurisdiction in which your author resides. ![]() Maintenance estimates were provided by third-party database Vincentric where available, or directly sourced from quotes by local dealerships. Electricity is estimated to cost 15.5 cents per kWh. To account for current prices, we’ve applied a factor of 1.9 to their numbers. Estimates of fuel costs (gasoline for internal-combustion vehicles, and electricity for EVs) are taken from NRCan’s official ratings with one major caveat: numbers listed by the feds are based on an average gasoline price of $1.09 per litre. The numbers shown in this article, such as purchase prices and interest terms, are current as of this writing. This advertisement has not loaded yet, but your article continues below. Electric vehicles generally require less maintenance - no oil changes, for example - offering up further savings when one looks at the big picture. Packing one’s electric vehicle full of electrons results in a bill which is just a fraction of what one will be presented at the pumps, not to mention the added convenience of charging the vehicle at home for those fortunate enough to have the space to do so. One major draw to the EV lifestyle is, of course, the relative expense of a ‘fill-up’ compared to traditionally powered cars. Now that inflation’s running rampant, wreaking havoc on fuel prices and service costs, we thought it a good time to take a close look at the true cost of ownership for some of Canada’s most popular vehicles, comparing them to a market segment that’s on everyone’s lips: electric vehicles. Maintenance, insurance, and fuel are the main trio of extra costs but other ancillaries like cleaning supplies and the occasional drop of windshield washer fluid can add up over time. A central tenet of car ownership is there’s more involved in its total operating cost than just the monthly payment.
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