Originally Posted by BayouBiker
In estimating the total cost of ownership for a new generation electric tow vehicle nearly all of the internet analyses use depreciation schedules, and insurance costs from conventional ICE vehicles despite the clear trend for EVs that are far and away more costly on both fronts. The EV accident repair charges are running quite a bit higher than traditional vehicles and insurance charges reflect that. The Cybertruck's stainless exoskeleton is likely to see this in spades. So in my neighbors analysis he is using the average surcharges for insurance. Twice the insurance cost is not unusual. Depreciation is also nearly double, as another poster mentioned. No reason to suspect this will change in the next few years, however there is a good deal of uncertainty so he used a range for both of these costs. The other big cost when towing is the number of extra intermediate overnights and the campground costs for those. He had 35% more non destination overnight stays in his numbers.
Using expected costs as described based on current experience, the EV as a choice is not a contender costing $27k more than the diesel option. By making some assumptions about changes in insurance and depreciation, they get closer, but the EV experience over the past 10 years does not bode well, so you'll have to throw caution to the wind in choosing an EV until a few more years have transpired.
I found it interesting that the analysis including camping fees. Presumably, the goal is to go camping. The two vehicle types don't change the number of camping days. They may change how far afield one travels. If camping fees are an expense to be avoided, wouldn't the ultimate solution be to just stay home?
We need to keep clear the distinction between current EVs and future EVs, which may include EVs capable of towing larger Airstream trailers.
Given that the product hasn't been released yet, by any manufacturer, I think that any analysis of TCO for a BEV tow vehicle is too uncertain today to be of much value. Once there is a product that is commercially available, then the analysis risk will focus more on the repair cost and the resale value, the rest will be much more certain.
But we can learn from the history of EVs that are available, eg the current experience. Keep in mind that the BEVs being reported on are early generation, and not necessarily representative of current offerings, with respect to range, etc. But it is all we have as a cost basis. These comparisons are for a variety of vehicle classes, excluding pickups. Small cars, medium cars, SUVs, etc. And some of us prefer to tow with SUVs or cars, so there is that. Then we can decide to what extent those analysis methods and data trends should be applied to a future BEV truck which is capable of towing a larger Airstream.
One of the better analysis reports that I saw was Consumer Reports. It doesn't concur with many of Brian's statements, in particular, re depreciation, and insurance. The report has lots of details on how they calculated costs. An example of this is that they estimated the % of charging at home, vs % of charging on long trips, and this could be varied for a potential BEV tow vehicle.
Full report here: https://advocacy.consumerreports.org...l-Report-1.pdf
Some key takeaways from that report:
While electric vehicles (EVs) typically have higher upfront purchase prices, they can save consumers a lot on operating expenses. This study relies on new data on electric vehicle depreciation rates and maintenance and repair costs, along with real world average vehicle prices, to estimate how much today’s most popular EVs can save consumers when compared with similar ICE vehicles.
Overall, BEVs were estimated to save consumers about 60 percent on fuel costs compared with the average vehicle in their class. Fuel costs were also analyzed by state, with the majority of states falling within 10 percent of the national average.
For all EVs analyzed, the lifetime ownership costs were many thousands of dollars lower than all comparable ICE vehicles’ costs, with most EVs offering savings of between $6,000 and $10,000. While new EVs were found to offer significant cost savings over comparable ICE vehicles, the cost savings of 5- to 7-year-old used EVs was found to be two or three times larger on a percentage savings basis.
Overall, these results show that the latest generation of mainstream EVs typically cost less to own than similar gas-powered vehicles, a new development in the automotive marketplace with serious potential consumer benefits.
I think the sales trends for the currently available BEVs support them having a lower TCO. We just need to wait to see a BEV tow vehicle with more range, and confirm that the savings currently being calculated apply to that type of BEV as well.