Electric vehicles are a huge bust
Posted: Sun Dec 24, 2023 7:47 am
This story is about declining interest from Ford dealers to sell electric vehicles. Willingness to sell these vehicles fell from two thirds of dealers last year to roughly half this year. If customers wanted the vehicles, the dealers would be anxious to sell them.
However, way down at the bottom of the article is where I found the most interesting information...
So far, just one EV charger has been built under a $7.5 billion program introduced by President Biden’s 2021 infrastructure bill to expand the charging infrastructure sharply.
A recent study from the Austin-based think tank Texas Public Policy Foundation (TPPF) found that, when taking into account various subsidies and regulatory credits, the actual cost of operating an EV is equivalent to running a gas-powered car with prices at a whopping $17.33 per gallon.
The report found that various subsidies, regulatory credits, and charging costs of an average EV from the model year 2021 add $53,267 to the vehicle’s price over a decade.
Assuming that the EV is driven for 10 years at 120,000 miles, this would make the “true cost of fueling” equivalent to an EV owner paying $17.33 per gallon of gasoline—many times higher than the $1.21 per gallon claimed by other estimates.
“This analysis shows that electricity is a long way from becoming a cost-effective transportation fuel compared to gasoline,” the report reads. “Without increased and sustained government favors, EVs will remain more expensive than ICEVs [internal combustion engine vehicles] for many years to come.”
An earlier study from Anderson Economic Group (AEG) found that, with higher electricity prices, “most traditional gas-powered vehicles cost less to drive than their EV counterparts.”
While the differences varied across segments and depended on whether charging was done at home or commercially, the results of the AEG study made a strong case that going electric simply costs more to run.
As for reliability, a recent Consumer Reports analysis showed that, on average, EVs were found to have had 79 percent more problems than gasoline-powered cars.
The least reliable were plug-in hybrids (PHEV), which had a whopping 146 percent more problems than gas vehicles.
https://www.theepochtimes.com/article/o ... ginoReport
However, way down at the bottom of the article is where I found the most interesting information...
So far, just one EV charger has been built under a $7.5 billion program introduced by President Biden’s 2021 infrastructure bill to expand the charging infrastructure sharply.
A recent study from the Austin-based think tank Texas Public Policy Foundation (TPPF) found that, when taking into account various subsidies and regulatory credits, the actual cost of operating an EV is equivalent to running a gas-powered car with prices at a whopping $17.33 per gallon.
The report found that various subsidies, regulatory credits, and charging costs of an average EV from the model year 2021 add $53,267 to the vehicle’s price over a decade.
Assuming that the EV is driven for 10 years at 120,000 miles, this would make the “true cost of fueling” equivalent to an EV owner paying $17.33 per gallon of gasoline—many times higher than the $1.21 per gallon claimed by other estimates.
“This analysis shows that electricity is a long way from becoming a cost-effective transportation fuel compared to gasoline,” the report reads. “Without increased and sustained government favors, EVs will remain more expensive than ICEVs [internal combustion engine vehicles] for many years to come.”
An earlier study from Anderson Economic Group (AEG) found that, with higher electricity prices, “most traditional gas-powered vehicles cost less to drive than their EV counterparts.”
While the differences varied across segments and depended on whether charging was done at home or commercially, the results of the AEG study made a strong case that going electric simply costs more to run.
As for reliability, a recent Consumer Reports analysis showed that, on average, EVs were found to have had 79 percent more problems than gasoline-powered cars.
The least reliable were plug-in hybrids (PHEV), which had a whopping 146 percent more problems than gas vehicles.
https://www.theepochtimes.com/article/o ... ginoReport