Re: Chevy Volt: 1 Year Later?
Something I heard on the radio, talking about Ford's all electric car (no gas option) that Men's Health was using as a test run across the country and working out stopping points, was that a charge cost $2.50ish and was good for 80-100 miles.
I commute 37 miles each way, so at that price, it would cost me roughly $2.50 every day in electic, or $12.50 for 5 days. Throw in a little on the weekend (we generally use my wife's car on the weekend so its not totally fair, but I also go to meetings and what not for work, so I do more than just commute back and forth) and we're talking $15 a week.
Currently, I spend around $50 a week, meaning the Ford version they were talking about would save me roughly $35 a week. 52 weeks a year gives you $1,820 in saving a year.
I'll assume repair/maintance costs are on par (I hear that is not true, but don't know for sure) and if you assume an ownership of 7 years, you'd have a 7 year savings of $12,740 over your ownership period. Then the next question, how do those cars hold up over 7-10 years, which would translate into their resale value and what they're worth when you're looking for your next one.
I think what this tells me, is that it will take $5 a gallon gasoline over an extended period for an all electric car to make sense financially. Of course, I expect the technology to improve over time. I'd also like to know what the general opinion of these cars are in poor winter weather, do any of them have all wheel drive? How do they hold up with a family of 4 or more that are hauling around sporting equipment from game to game?