I recently ran the numbers on a Gen2 Prius, Gen3 Prius, and a Gen1 Volt against our fleet. Happy to share the spreadsheet with my model, assumptions, etc. with anyone who's interested. We do a lot of in-town running currently in two vehicles (Pilot and Odyssey) that get about 15-17 MPG in town (actual). We're not in a position to purchase new, so a pure EV was ruled out pretty early on. The question I was trying to answer was would adding a more efficient vehicle save us money overall. The answer for right now was no.
A few conclusions I drew:
- Purchasing another car (even a used car) wasn't really going to save any $$$ when you factored in the purchase cost, taxes, DMV fees, etc. It really only made sense to get into this when we're either swapping out another car, or have made the decision we need to add another vehicle to the fleet. We have two teenagers who will be new drivers in the next 2 years, so we'll likely be adding a vehicle at some point in our future.
- The Prius and Volt came out surprisingly similar when it came to cost. I didn't factor in the cost of a charger, and it was a little tough to estimate exactly how many kwh per charge (I took the number off of a forum post). I'm guessing maintenance would be a wash between the two. I like the fact that both have the ability to be used on a long trip with little to no penalty (i.e. no range anxiety in the equation).
- I didn't factor maintenance costs into the equation, but I think any of the more fuel efficient cars would have had cheaper running costs (less brake use, smaller tire sizes, etc.) than our current fleet. Maintenance costs are a little tough to predict over a short time frame, as it depends on what wears out. Because I was looking short-term, I ignored these, but over the longer term, I think these would favor the more efficient vehicles.
Based on what I saw, I cooled on purchasing anything additional in the hope of saving $$$. There were some other thoughts I had about plug-ins taking up a garage bay that would normally be reserved for another vehicle, etc. I've love to try something out now as an experiment for the future, but there wasn't enough of a cost-savings to be able to really justify it. I'd love to make the jump to a full EV, but we're just not there financially yet.
For us right now, it would be between a Prius and a Volt if I were adding another car to the fleet and trying to factor cost savings into the equation. Both get decent safety ratings, and I think would improve our running cost situation. In our case, though, the extra room of the Prius would likely give it the nod over the Volt (it seats 5 vs. 4 and seems to have more space in general), but on paper, the Volt is the one that's more interesting to me.
I'm a pretty big DIY-er, so if we were making a decision I'd want to understand how much I could DIY on that vehicle. I really like the idea of a Tesla, but I'm not sure how crazy I am about how much I could actually work on one. Maybe that would be offset by the fact that they need less maintenance, but I at least like having the option of working on it myself.