Are EVs Actually Cheaper To Own? Maybe Not

Electric vehicles (EVs) have undeniably entered the mainstream in the United States. According to estimates from Kelley Blue Book, more EVs were sold last year than were sold between 2011 and 2018. The roughly 1.2 million new EVs put into service in 2023 represented 7.6% of the total U.S. car market. Cox Automotive's Economics and Industry Insights team boldly predicted that this share will climb to 10% in 2024.