offer lower fuel and maintenance costs compared to traditional gasoline vehicles.However,several electric vehicles(EVs)can still rack up significant expenses over five years due to high purchase prices and other factors.
Marketwatch Guides recently conducted a study on the operating costs of various vehicles,revealing that luxury models can demand a substantial investment to maintain.The Porsche Cayenne topped the list with a staggering five-year running cost of$56,010.This figure included expenses such as fuel,financing,insurance,maintenance,and taxes.Specifically,the Cayenne incurred$18,198 in financing costs and$16,756 in fuel costs over five years.
Following closely behind were the Porsche Macan and BMW X5 xDrive40i,which cost$48,653 and$48,456,respectively,to operate over the same period.Other luxury models like the Genesis G80,Jaguar XF,and Ford Mustang also featured prominently on the list,each exceeding$40,000 in total operating expenses.
In contrast,the Hyundai Venue emerged as the most economical option,with a five-year operating cost of$22,761.This affordability stemmed from lower fuel and maintenance expenses compared to larger,luxury vehicles.
Interestingly,while electric vehicles generally offer savings on fuel and maintenance,some still incurred significant costs due to high initial purchase prices.For instance,the Porsche Taycan and Audi E-Tron GT both exceeded$48,000 in five-year running costs,primarily driven by their upfront costs and other ownership expenses.
Marketwatch’s analysis did not factor in depreciation in its running cost calculations but highlighted EVs’varying depreciation rates compared to traditional gasoline models.EVs like the Audi E-Tron GT experienced faster depreciation,which could impact overall ownership costs.
Overall,while EVs typically offer lower operational costs,consumers should carefully consider both upfront and ongoing expenses when evaluating the total cost of ownership for different vehicle models.