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Title:

Total Cost of Ownership of Electric Vehicles: Global Comparisons and UK Projections
Cover of Total Cost of Ownership of Electric Vehicles: Global Comparisons and UK Projections

Accession Number:

01630070

Record Type:

Component

Abstract:

New powertrain technologies, such as hybrid electric vehicles, have a price premium which can often be offset by reduced running costs. Total Cost of Ownership (TCO) calculations combine all expenses incurred from vehicle ownership to evaluate the most cost-effective option: a valuable assessment for private and fleet purchasers alike. Studies to date have not compared TCO across different markets, compared historic costs or undertaken mileage sensitivity assessments. Therefore, this research gives a more comprehensive TCO assessment between conventional, hybrid, plugin hybrid and battery electric vehicles in three industrialized countries – the UK, USA (using California as a case study) and Japan for the years 2000 to 2015 examining the link between TCO and market share. With changes to subsidies and vehicle taxes in the UK, this research examines possible cost evolution of vehicle TCO to 2035 to assess possible impact on market share. The authors conclude that in all countries considered, hybrid vehicle TCO is similar to conventional petrol vehicles. Market share was found to be linked to changing TCO although sensitivity varied across countries. Subsidies result in significantly cheaper plugin electric vehicle TCO in California but concerns exist over significant increases in TCO in the UK when subsidies are removed in 2017, indicating vehicle price premiums could exist past 2035. With increasing market share of low emission vehicles, this research has implications for fleet purchasers, private owners and policymakers alike who are either considering switching to a low carbon alternative or are interested in decarbonising the fleet.

Supplemental Notes:

This paper was sponsored by TRB committee ADC70 Standing Committee on Transportation Energy.

Monograph Accession #:

01618707

Report/Paper Numbers:

17-01882

Language:

English

Corporate Authors:

Transportation Research Board

500 Fifth Street, NW
Washington, DC 20001 United States

Authors:

Palmer, Kate
Wadud, Zia
Tate, James E
Nellthorp, John

Pagination:

15p

Publication Date:

2017

Conference:

Transportation Research Board 96th Annual Meeting

Location: Washington DC, United States
Date: 2017-1-8 to 2017-1-12
Sponsors: Transportation Research Board

Media Type:

Digital/other

Features:

Figures; References; Tables

Geographic Terms:

Japan; United Kingdom; United States

Subject Areas:

Economics; Energy; Highways; Planning and Forecasting; Vehicles and Equipment

Source Data:

Transportation Research Board Annual Meeting 2017 Paper #17-01882

Files:

PRP, TRIS, TRB, ATRI

Created Date:

Dec 8 2016 10:39AM