New electric car costs only slightly more than average annual per capita income

Posted on July 29, 2010

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Sticker price: $41,000. Per capita income: $39,138. No worries, though. You get a $7,500 tax credit for buying one, so in effect, this baby costs only slightly north of … $33,000. Which, really, is a small price to pay for showing How Much You Care.

Lets do some math:

Chevy Volt: $41,000 (True Cost)
Honda Civic: $20,000 (Average build)
Difference: $21,000

Gas: $2.45/gal (in Oklahoma City)
The difference in price would buy 8,571.43 gallons of gas. The Civic gets an average of 29 miles to the gallon. That’s 248,581.47 miles on the price difference.

Assuming the average driver drives 12,000 miles a year, AND you only drive the Volt on the 40 mile range of it’s battery, using no gas, you’d have to own the Volt for 20.7 years to justify the price difference in gas savings. How long’s that warranty again?

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