Electric Cars are Ecofriendly, but not Pocket-friendly

Electric vehicles (EVs) are foreseen to be the future of how humanity transports but this trend has emerged primarily on the increased environmental concerns. Fossil fuel reserves are limited and cause severe damage to the environment. Additionally, EVs offer quitter rides and instant acceleration. However, will electric vehicles be pocket-friendly or affordable to larger masses too? The jury is still out on that verdict.

As nearly every automotive players is developing their own brand of electric cars, the prices are falling consistently but they are still significantly costlier than the gas models, which is essentially due to the cost of batteries. A number of governments are offering tax rebates are well, which has helped erase the gap but there still is a large void to be filled.

Since eternity, price of the products has been of optimum valuation to the consumers. And consumers who are opting for electric cars are going for leased licenses rather than out rightly buying them for the sheer cost of the products. For instance, more than 57 percent of leaf electric cars from Nissan are on lease, as compared to only about 30 percent of all cars.

That being said, electric cars are cheaper to fuel and easy to maintain. For instance, a Leaf costs about US$600 per year to charge, according to the United States Government, which equates to nearly 15,000 miles per year. Consumers pay anything around US$1,050 on gas to fill up a Civic. Although, these figures are also dependent on the location of the vehicles.

Author: Rohit Bhisey

As Head of Marketing at TMR Research, Rohit brings to the table over a decade of experience in market research and Internet marketing. His dedication, perseverance, and passion for perfection have enabled him to achieve immense success in his field. Rohit is an expert at formulating new business plans and strategies to help boost web traffic. His interests lie in writing news articles on technology,healthcare and business.

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