New research from AAA finds 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.
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, but going green is not as scary as you may think.
AAA’s recent survey focused on those who own electric vehicles and found those drivers who were originally concerned about insufficient range became less or no longer concerned post-purchase (77%). AAA believes 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.
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%).