Annual 'fuel' costs for electric cars are significantly lower than paying for gas.
While it seems most people may be aware by now that electric vehicles can and will save you money on fuel, adoption is not yet widespread, especially in the United States. This makes sense since gas cars are just outright cheaper upfront, readily available, and the norm in terms of what most shoppers are comfortable buying.
EVs are considerably more expensive than traditional gas-powered cars based on sticker price. Many of today's car shoppers are looking for the best deals and the lowest monthly payment. Few buyers actually take the time and effort to factor in things like long-term ownership, fuel costs, expected maintenance, etc.
For comparison, it's important to give you an indication of EPA-estimated fuel costs for various gas-powered models:
2020 Toyota Prius: $750 per year
2020 Honda Civic: $1,200 per year
2020 Toyota Corolla: $1,200 per year
2019 Honda CR-V: $1,400 per year
2020 Volkswagen Tiguan: $1,600 per year
2020 Ford Mustang: $1,600 per year
2020 BMW 3 Series: $1,650 per year
2019 Mazda CX-9: $1,650 per year
2020 Ram 1500: $1,800 per year
2020 Chevy Traverse: $1,900 per year
2019 Ford Expedition: $2,000 per year
2020 Audi Q5: $2,050 per year
With some EVs' fuel costs coming in at $550 per year or less, the savings are ultimately clear. Even the least efficient EV on the market today — the Audi e-tron — has an EPA-estimated annual fuel cost of $900, which is less than any of the above gas-powered vehicles, aside from the incredibly efficient Toyota Prius hybrid.
Let's take a look at which cars cost the least to fuel according to the EPA.