As the quality of the world continues to decline, humanity has been scrambling to right the many wrongs that have caused this deterioration. Introducing the modern-day electric car is one of the most well-known attempts at decreasing our carbon footprint. Gasoline-powered cars are a leading cause of air pollution, and a battery-powered vehicle eliminates the problem. However, only some people are on board with this trend.
Believe it or not, electric cars have been around for decades. According to the Department of Energy, a Des Moines scientist introduced electric vehicles in the United States in the 1880s. After their debut, electric cars took the market by storm. They quickly gained popularity, and their respected manufacturers maintained stable sales. In the 21st century, EVs are steadily climbing to the top of the car market. An article published by the U.S. Bureau of Labor Statistics in 2023 states, “The number of EVs on the road jumped from about 22,000 to a little over 2 million over the 2011–21 decade.” While these environment-friendly cars are popular, people still seem skeptical about making them a part of their daily lives.
For many car buyers, the price of a vehicle is the main factor in choosing their next set of wheels. Whether that’s the price of owning the vehicle and maintaining it or the upfront cost of one’s chosen car. The affordability of some EV models is a stretch for most buyers, and according to the Federal Reserve Bank of Chicago, electric models were 35% more expensive than a gasoline-powered model as of 2023 but are starting to decrease. What people fail to realize is that, over time, owning an electric vehicle is cheaper. J.D. Power states that Americans, on average, spend $150 to $200 on gas per month. For comparison, an article by Energy Sage states that it costs about $56 a month to charge an EV at home. For many families, their day to day vehicle will change as their families grow and needs vary.
Most Americans will receive their first car as a high schooler and will use the same car for years after until they can purchase their own. This leads to concerns about how the value of an EV compares to that of a gas vehicle. Using Consumer Reports’ Car Value Estimator, I compared the trade-in value of a 2023 Tesla Model Y and a 2023 Honda CR-V, both with 12,500 miles. For a well-kept Honda CR-V with the EX-L package and little exterior or interior damage, one may see a $30,525 trade-in value. The Tesla Model Y, with the 4D SUV Performance package and minimal damage, could get the seller a $34,200 trade-in value. So, an owner of a one-year-old Tesla Model Y looking to sell their car would likely see a better offer from a dealer.
As society continues to forge its path to an emission-free world, electric cars will continue to be a part of daily life. At some point in the future, gasoline-powered vehicles will be replaced by EVs, so most would agree that it’s best for people to just get used to possibly having to plug in their car.
