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Analysis finds annual running cost of EVs less than ICE; but with purchase price factored in, it flips

Green Car Congress

However, these annual costs don’t take into account the purchase cost of the vehicle itself and are purely the ‘running’ costs annually. When the purchase cost of each type of vehicle is factored in, average gasoline vehicles are $1,454 per year cheaper to run. —Lauren Bringle, Accredited Financial Counselor at Self Financial.

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J.D. Power: EV price pressure grows as government incentives and lease deals wield outsized influence on consumer demand

Green Car Congress

The first evidence can be seen in consumer interest in the Ford Mustang Mach-E and the Tesla Model Y following the reclassification of both vehicles as SUVs, which made them eligible for a $7,500 federal tax credit under the Inflation Reduction Act. Power EV Index.

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Oregon’s EV incentive program that brought Tesla prices below $30k is running out of money

Teslarati

Oregon’s electric vehicle incentive program that was widely publicized for bringing the price of a Tesla Model 3 well below $30,000 is being suspended for a year starting in May because it is running out of money. According to Fox Business , Oregon expects 1.5 million people to be driving EVs in the state by 2035.

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Rhode Island’s DRIVE EV program encourages sustainable transport

Teslarati

Rhode Island is offering new incentives to encourage the purchase of electric vehicles with its new DRIVE EV program. The program, which pushes for both individual and fleet EV purchases, offers rebates based on a consumer’s choice to drive a sustainable powertrain.

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Ford reportedly eliminates lease-to-buy option on electric vehicles

Teslarati

As of June 15, 2022, Ford will no longer offer the opportunity to purchase its three all-electric vehicles, the F-150 Lightning, Mustang Mach-E, and E-Transit Van, for new leases. Ford informed dealers in a letter that it was discontinuing the end-of-lease purchase option for the E-Transit van, Mustang Mach-E, and F-150 Lightning.

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8 ZEV states announce US ZEV sales top 260,000 units

Green Car Congress

Californians have purchased or leased more than 100,000 ZEVs. The other seven states—Connecticut, Maryland, Massachusetts, New York, Oregon, Rhode Island and Vermont—account for more than 135,000 vehicles. In October 2013, the 8 states signed a memorandum of understanding to take specific actions to put 3.3

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Electric motorcycles are gaining momentum

Plug in America

“Riding a cool looking bike that is literally the quickest vehicle around (with the exception of the Premium Tesla Model S) makes me very happy.”. Federal tax credit : Tax credit for the purchase of a new two-wheeled plug-in electric drive motor vehicle. What incentives are available? . Credit amount: up to $2,500.