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Product Abstract

Total Cost of Ownership for Current Plug-in Electric Vehicles: Update to Model 2013 and 2014 Model Year Vehicles

Product ID:3002004054
Date Published:20-May-2014
File size:386.20 KB
Sector Name:Power Delivery & Utilization
Document Type:Technical Update
FileType:Adobe PDF (.pdf)
Price:No Charge

This Product is publicly available.

Abstract

As of April 2014, there are over 200,000 Plug-in Electric Vehicles (PEVs) on the roads in the United States. From 2011 to the present, sales growth has been steady and strong—approximately double historical hybrid sales during the same period. This sales performance is attributable to increasing consumer acceptance, recent decreases in price, and the introduction of very competitive leasing deals on vehicles. In June 2013, EPRI released the public report, Total Cost of Ownership for Current Plug-in Electric Vehicles (3002001728) to address whether or not PEVs are cost competitive over a 150,000-mile lifetime in comparison to closely matched Generic Conventional and Generic Hybrid vehicles. The 2013 report analyzed the total cost of ownership (TCO) of the 2013 Chevrolet Volt and Nissan LEAF. Since then, both companies have announced significant price reductions on these vehicles—including a price drop of $5,000 on the Volt. This Technical Update incorporates the new prices and provides TCO and payback-period analyses of two additional vehicles: the Toyota Prius Plug-in and the Ford C-Max Energi. The methods used in this study are generally the same as those used in the 2013 report. For the Prius Plug-in and the C-Max Energi, this update also compares these PEVS to their non–plug-in hybrid counterparts. The TCO pricing analyses for all vehicles includes the Manufacturer’s Suggested Retail Price (MSRP), purchase price (including incentives, sales tax, and delivery charges), fuel economies, electric driving range, and powertrain description. This study reaffirms the findings of the 2013 report that the Volt and LEAF are cost-competitive for many customers relative to similar conventional and hybrid vehicles. The cost reductions for the Volt have reinforced this positive conclusion. The Plug-in Prius and C-Max Energi also have a lower TCO than generic conventional and hybrid vehicles. At present, the LEAF is more expensive than its own non–plug-in hybrid counterpart, but the 2014 Prius Plug-in has a significantly lower TCO than the non–plug-in Prius. Payback periods for all four analyzed PEVs are rapid (less than five years) relative to Generic Hybrid vehicles, but they are more variable relative to Generic Conventional vehicles.

Program
2014 Program 18  Electric Transportation
Keywords
  • Battery Electric Vehicle (BEV)
  • Extended-Range Electric Vehicle (EREV)
  • Payback period for electric vehicles
  • Plug-in Electric Vehicle (PEV)
  • Plug-In Hybrid Electric Vehicle (PHEV)
  • Total cost of ownership (TCO)
Report
000000003002004054
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