Volkswagen ID Forum banner

1 - 5 of 5 Posts

·
Registered User
Joined
·
242 Posts
Discussion Starter #1
Consumer Reports released their EV Ownership Cost Report. In it they show how much you can save in EV ownership costs compared to their gas powered counterparts.



683


WASHINGTON, D.C. — Owning a plug-in electric vehicle today will save consumers thousands of dollars compared to owning a gas-powered vehicle, according to a new analysis by Consumer Reports comparing electrics to CR’s top-rated vehicles, as well as the best-selling, most efficient, and best-performing gas-powered vehicles on the market.

The analysis found lifetime ownership costs for the most popular EVs on the market under $50,000 are typically $6,000 to $10,000 less than the best gas-powered vehicles in their class*. Tesla’s Model 3, the best selling EV on the market, delivered the biggest savings: at least $15,000 compared to both the BMW 330i (best selling) and Audi A4 (top rated).

The overall out-of-pocket-costs for many consumers who finance will be lower in their very first year of ownership, despite the fact that the upfront cost of electric vehicles remains higher today than their gas-powered counterparts.

Where the savings come from:

“There’s been so much progress over the last few years that many mass market electric vehicles will now save consumers money right off the lot,” says senior policy analyst Chris Harto, who authored the new report. “Today’s mainstream electric vehicles have what many consumers are looking for, including enough range for most people to do their daily driving without relying on public charging, while also delivering excellent acceleration and a quiet ride.”

Consumers in the market for a used vehicle, which make up 70% of car purchases, are poised to benefit significantly as they get access to these mainstream EVs over the coming years. Since previously-owned vehicles cost less upfront but have greater maintenance and repair costs, consumers in the market for a used vehicle are in line to pocket a significant portion of an EV’s overall lifetime savings potential.

“The auto industry has spent most of its ad money tugging at our emotions and promoting gas-powered vehicle performance, but failed to market EVs, all the money they will save, and the performance they deliver,” says David Friedman, Vice President of Advocacy at CR. “The future of cars can and will be electric if the entire industry starts making and marketing compelling EVs for everyone. And that’s a future consumers are getting a glimpse of today.”
 

·
Registered User
Joined
·
28 Posts
not mentioned...

EV State Tax
So, so I understand this correctly, this EV tax on a $44K 1st is about $1720 - in addition to the sales tax. Has anyone done the math in their states?

Reduced Alternative Fuel Vehicle (AFV) License Tax
The vehicle license tax for an AFV registered in Arizona is $4 for every $100 in assessed value. The minimum amount of the annual AFV license tax is $5. AFV assessed values are determined as follows:

AFVs registered prior to January 1, 2022: 1% of the manufacturer’s suggested retail price (MSRP)
AFVs initially registered between January 1, 2022 and December 31, 2022: 20% of the MSRP.
For each succeeding year, for the purpose of calculating the license tax, the value of the AFV is reduced by 15% from the value from the preceding year.
For the purpose of this tax, AFVs include those powered exclusively by propane, natural gas, electricity, hydrogen, or a blend of hydrogen with propane or natural gas. For more information, see the ADOT AFV website. The reduced alternative fuel vehicle license tax does not apply to any vehicle purchased on or after December 31, 2022.
 

·
Registered User
Joined
·
36 Posts
not mentioned...

EV State Tax
So, so I understand this correctly, this EV tax on a $44K 1st is about $1720 - in addition to the sales tax. Has anyone done the math in their states?

Reduced Alternative Fuel Vehicle (AFV) License Tax
The vehicle license tax for an AFV registered in Arizona is $4 for every $100 in assessed value. The minimum amount of the annual AFV license tax is $5. AFV assessed values are determined as follows:

AFVs registered prior to January 1, 2022: 1% of the manufacturer’s suggested retail price (MSRP)
AFVs initially registered between January 1, 2022 and December 31, 2022: 20% of the MSRP.
For each succeeding year, for the purpose of calculating the license tax, the value of the AFV is reduced by 15% from the value from the preceding year.
For the purpose of this tax, AFVs include those powered exclusively by propane, natural gas, electricity, hydrogen, or a blend of hydrogen with propane or natural gas. For more information, see the ADOT AFV website. The reduced alternative fuel vehicle license tax does not apply to any vehicle purchased on or after December 31, 2022.
Currently in Georgia it is not a tax but rather an annual licensing fee. The fee is $213.88 for the year starting on or after July 1, 2020 for non commercial AFV. Commercial fee is a little higher.
 

·
Registered User
Joined
·
21 Posts
In Ohio, the EV fee is also in the form of an additional $200 a year on top of regular license plate fees. That is in additional to a 7.8% sales tax in my County at time of purchase. I should also mention that Ohio is behind the times and offers $0 State tax incentive when the vehicle is purchased. If they could find a way to reduce the Federal tax incentive, they probably would. The folks in NJ definitely have the best deal in the country when they purchase an EV with a State tax incentive of $5,000 and no sales tax. WOW.
 

·
Registered User
2021 ID.4 1st Edition (on order), 2012 CC Sport, 1986 Golf (former), 1967 Beetle (former)
Joined
·
116 Posts
In Washington State, we have sales tax exemption up to $25k of the price of a new or used EV. On the backend, we have a total of $225 in annual car tab fees for hybrid and electric vehicles.

The voters approved an initiative to reduce the total to $105 (blanket car tab fees of $30 and $75 for a fund to build charging stations), but our "green" governor and attorney general are burying it in the courts and COVID.
 
1 - 5 of 5 Posts
Top