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Study Shows EV Service Costs 30% Lower than ICEs by Third Year

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Nov. 9, 2021—A new study shows that maintenance costs for electric vehicles fall below the costs of maintenance on their ICE counterparts after three years on the road. 

According to a report from Fleet Forward via ConstructionEquipment.com, service costs for EVs fall to 30 percent lower than ICE-powered cars and small trucks after three years. EVs have fewer moving parts, which the report cites as a key reason that drives down repair costs, as well as "significantly lower" maintenance costs.

After a year on the road, EVs average just over $300 in service costs per vehicle, while ICE vehicles average just under $200. At 36 months, EV services cost an average of $514 per vehicle compared to just under $750 for ICE vehicles. 

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