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