Electric Cars Are Driven the Least While Costing the Most

Highlights: 

• Electric cars are driven 20 percent less than gasoline cars; combined with their higher prices they cost 63.6 percent more for every 1,000 miles driven per year

• Hybrids and plug-in hybrids are also driven less than gasoline models, but only by 2.7 and 4.8 percent, respectively, making their cost-per-1,000 miles per year much closer

• The average electric car costs $5,108 for every 1,000 miles per year it’s driven compared to $3,056 for a hybrid car, $3,123 for a gasoline car, and $4,351 for a plug-in hybrid

• The Porsche Taycan EV is the most expensive alternative-fuel car to drive, costing over $22,000 for every 1,000 miles it’s driven per year, followed by the Porsche Cayenne plug-in hybrid at $14,681 and the Tesla Model S at $11,623

• The Honda Insight Hybrid is the least expensive alternative fuel car to drive, costing $1,463 per 1,000 miles per year, followed by the Hyundai Ioniq Hybrid at $1,813 and Toyota Corolla Hybrid at $1,857

When comparing how people use gasoline, hybrid, and electric vehicles, 3-year-old gas cars are driven 12,813 miles a year while EVs are driven 20 percent less, or 10,256 miles. Plug-in hybrids are driven 12,199 miles, or 4.8 percent less than gasoline cars, while standard hybrids are driven 12,471 miles, or 2.7 percent less than gasoline models.

“Range anxiety and charging infrastructure are top-of-mind for EV drivers, and those factors likely limit how far owners will drive them,” said Karl Brauer, iSeeCars Executive Analyst. “Hybrids and plug-in hybrids, where all-electric battery range is limited but range anxiety isn’t a factor, are driven only slightly less than gasoline cars, as reflected in their similar yearly mileage.”

The Most Driven Electric Vehicles

Tesla’s are driven more than any other electric vehicle. The Model 3, X, and Y all cover more than 11,000 miles a year, which is above the EV average of 10,256 annual miles. The Model S averages only 8,293 miles a year, or 19 percent less than the average EV, making it one of the most expensive electric cars to operate on a per-miles basis (see below for more info).

“Teslas offer more range and access to the Supercharger Network, both of which support higher use rates than the average electric vehicle,” said Brauer “This makes the Model 3, X, and Y more cost effective on a per-mile basis, while the Model S is among the most expensive EV to operate.”

The Most Driven Plug-In Hybrid Vehicles

Plug-in hybrids (PHEVs) cost more than hybrids but less than electric vehicles, and their average driven miles per year is relatively close to gasoline models. At more than 19,000 miles a year, the Chrysler Pacifica Hybrid minivan is driven over 50 percent further than the average PHEV, and 50 percent further than the average gasoline model.

“Plug-in hybrids are not as cost efficient as traditional cars, but they do offer zero-emission use for a limited distance, along with zero range anxiety,” said Brauer.

The Most Driven Hybrids

The average hybrid is driven at almost the same level as gasoline models, with the top three hybrids (Honda Insight, Toyota Prius, and Hyundai Ioniq Hybrid) driven at least 20 percent further than the average gas car.

“The top 10 driven hybrids are above the average annual mileage of gasoline models, reflecting their lower operating costs and lack of range anxiety,” said Brauer.

EVs: The Most Expensive Cars Due To High Cost and Low Use 

The limited use of EVs, combined with their higher list price, results in a 63.6 percent higher cost per 1,000 miles driven annually compared to gasoline cars. Plug-in hybrid vehicles cost 39.4 percent more than gasoline models, while standard hybrids actually cost 2.1 percent less than gasoline cars for every 1,000 driven miles per year. 

“Everyone knows electric vehicles cost more than gasoline, hybrid, and plug-in hybrid models,” said Brauer. “But when we combined their list price with the low use rate for EVs and compared those figures to other vehicle types, we were able to quantify exactly how much more electric vehicle buyers are paying, only to drive them less.”

Hybrids Are the Most Cost-Effective Vehicles, Even Better than Gasoline Cars

While electric vehicles have the most expensive drivetrain for their annual mileage, hybrids have the least expensive drivetrain – even cheaper than traditional gasoline models. This is because hybrid owners use their cars at almost the same rate as gasoline cars, while their average price is slightly lower than gasoline models. 

“Hybrids have become increasingly popular with consumers in recent years,” said Brauer. “And now many mainstream models, including the newest Toyota Camry, are only sold as a hybrid. This technology is set to become the dominant drivetrain throughout the industry.”

The Most Expensive EVs and Hybrid Cars per 1,000 Miles Driven: Luxury Cars

When ranked by cost per miles driven per year the Porsche Taycan is the most expensive car among EVs and hybrids, with a cost of $22,021 per 1,000 miles driven. Luxury cars are typically not driven as much as mainstream cars, but when combined with the higher cost of EVs and hybrids, these premium models become the most expensive cars per 1,000 miles.

* Average MSRP was used for these cars instead of average new car list price

“At between 6,000 and 8,500 miles a year, luxury cars like the Porsche Taycan, Porsche Cayenne Plug-in Hybrid, and Tesla Model S are being driven far less than the average car,” said Brauer. “This makes their $95,000-plus price an expensive premium when measured against against the Tesla Model 3 for example, which costs only $3,500 per 1,000 miles per year, much closer to the average of $3,123 for gas cars.”

The Least Expensive Hybrid Cars per 1,000 Miles Driven

The Honda Insight Hybrid is the least expensive vehicle among EVs and hybrids, costing just $1,463 per 1,000 miles driven per year. It’s followed by the Hyundai Ioniq Hybrid at $1,813 per 1,000 miles and the Toyota Corolla Hybrid at $1,857 per 1,000 miles. Unfortunately, the Insight Hybrid and Ioniq Hybrid were canceled after the 2022 model year, but they remain available on the used car market.

“The price increase between hybrids and traditional gasoline models keeps dropping, making hybrids an increasingly desirable option for consumers looking to keep both purchase price and operating costs low without altering their driving habits or facing range anxiety,” said Brauer.

The Most Expensive Gasoline Cars per 1,000 Miles Driven: Sports Cars

While electric vehicles and plug-in hybrids are among the most expensive vehicles on a cost-per-mile basis, high-performance sports cars still outrank them – even with a traditional gasoline drivetrain. Cars like the Porsche 911, Porsche 718 Cayman, and Lexus LC 500 are driven less than 5,000 miles a year, which translates to between $25,000 and $43,000 per 1,000 miles driven.

“Sports cars and high-performance models serve a very specific, very narrow focus for most owners,” said Brauer. “They are the antithesis of practically, as their annual mileage confirms.”

The Least Expensive Gasoline Cars per 1,000 Miles Driven: Economy Cars

Low-priced economy cars remain the most cost-effective models. All of these cars cost less than $1,600 per 1,000 miles driven, or about one-third the average cost of an electric car and approximately half the price of the average gasoline or hybrid model.

“Low-cost 3-year-old models like the Chevrolet Spark, Nissan Versa, Hyundai Accent, and Mitsubishi Mirage cost roughly $1,000 per 1,000 miles driven,” said Brauer. “While the Spark is no longer in production, the Versa, Accent, and Mirage are still available for buyers seeking the cheapest form of personal transportation.”

The Most-Driven EVs in the Top 50 Metro Areas by Population: Teslas Dominate

The most-driven EV in each of the nation’s top 50 metro areas is overwhelmingly a Tesla model, with the Model 3 being driven the most in 30 metro areas.

More from iSeeCars.com:

• Best Electric Cars

• Best Electric SUVs

• Best Hybrid Cars

Methodology

iSeeCars analyzed the odometer readings from over 1.3 million 3-year-old used cars sold from November 2022 to April 2023, and also compared these mileage numbers by model to the list prices of the same models when they were sold new. MSRP was used for cars from Tesla and Polestar, as well as the Audi e-tron Sportback. The average miles driven per year were calculated for each model as well as drivetrain, and the average new car price was expressed as a cost per 1,000 miles driven per year. The latter was used to rank models from most expensive to least expensive with respect to their driving patterns.

About iSeeCars.com

This article, Electric Cars are Driven the Least While Costing the Most, originally appeared on iSeeCars.com.

About iSeeCars.com