Submitted by Ken Watts
The following article was written by Allen Zhong from the Epoch Times. The results of the study are not intuitive and therefore fact checking is warranted. The cost to fuel electric vehicles (EV) in the United States is higher than the cost to fuel gas-powered cars for the first time in 18 months, a consulting company said. “In Q4 2022, typical mid-priced ICE [Internal Combustion Engine] car drivers paid about $11.29 to fuel their vehicles for 100 miles of driving. That cost was around $0.31 cheaper than the amount paid by mid-priced EV drivers charging mostly at home, and over $3 less than the cost borne by comparable EV drivers charging commercially,” Anderson Economic Group (AEG) said in an analysis. However, luxury EVs still enjoy a cost advantage over their gas-powered counterparts. It costs luxury EV owners $12.40 to drive every 100 miles on average if they charge their cars mostly at home, or $15.95 if they charge their cars mostly at commercial charger stations, according to the fourth-quarter data. Meanwhile, the fuel costs for luxury gas-powered cars are $19.96 per 100 miles on average. AEG, a consulting firm based in Michigan, offers research and consulting in economics, valuation, market analysis, and public policy, according to the company’s website. The fuel costs in the analysis are based on real-world U.S. driving conditions, including the cost of underlying energy, state taxes charged for road maintenance, the cost of operating a pump or charger, and the cost to drive to a fueling station, AEG said. Crashed Low-Mileage Teslas (are) Often Too Expensive to Fix. Insurance carriers are sending low-mileage Tesla Model Ys to salvage auctions because they’re too expensive to repair. Of more than 120 Model Ys that were totaled after collisions and listed at auction in December and early January, the vast majority had fewer than 10,000 miles on the odometer, according to a Reuters analysis based on online data from Copart and IAA, the two largest salvage auction houses in the United States. Copart and IAA auction listings note whether the vehicles were involved in front, rear, or side collisions, and typically include after-crash photos of each vehicle. But the listings don’t disclose specific details on the type of damage suffered. Copart listings in some cases included the names of the insurance companies that had bought back the crashed vehicles before listing them at auction. Those companies include State Farm, Geico, Progressive, and Farmers. Geico is a unit of Warren Buffett’s Berkshire Hathaway Inc.
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