Press release
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november 10, 2020 - Volkswagen
How owning an electric vehicle can help you reduce costs over the long haul
Electric vehicles like the #volkswagen #id4 offer a lot of benefits to their owners, such as zero tailpipe-emission driving and home charging. But there’s often been questions about the cost of EVs, as battery technology remains slightly more expensive than combustion engines.
The truth is that while those differences were once true, the cost of owning an #ev has fallen in recent years. With #volkswagen building a global platform to support dozens of #ev models worldwide, the #id4 can offer all the benefits of a compact SUV at a price that’s within reach of a typical new-car buyer. And for many people in the market for a new vehicle, an #ev offers several ways to potentially reduce costs while helping reduce carbon emissions.
“We want the #id4 to be accessible to the average American family, with a package that has no compromises,” said Duncan Movassaghi, executive vice president of sales and marketing for #volkswagen of America. “We think this really works financially for our customers.”
Here’s three ways that #ev owners typically reduce costs:
INCENTIVES
Under current law, purchasers of certain electric vehicles qualify for a federal income tax credit of up to $7,500 (See important limitations below[1]).
Subject to various limitations and qualifying criteria, state and local governments or other entities may also provide tax incentives or other benefits for certain #ev buyers and lessees.[2] There are several websites that provide information on potential incentives in your area. If available, these incentives could reduce the purchase/lease cost of an #ev or PHEV.
RECHARGING
Thanks to using electricity to get around, powering an #ev can cost significantly less than filling up the average new gasoline-powered vehicle. For the #id4, charging at home could cost on average about $58 per month less than driving a new vehicle the same distance. Over five years, that could add up to over $3,500 in fuel savings[3].
Beyond that, the #volkswagen #id4 comes with three years of unlimited public DC fast charging on the Electrify America network at no additional cost[4], which offers 487 stations with more than 2,000 fast chargers nationwide, and more coming online soon.
MAINTENANCE
With fewer moving parts and fewer routine needs like oil changes, EVs generally can cost less to maintain over several years than combustion vehicles. The #volkswagen #id4 will come with two years or 20,000 miles (whichever occurs first) of scheduled maintenance services through Volkswagen’s Carefree Maintenance program[5] to take care of routine items; beyond that, the #id4 will have a four-year or 50,000-miles (whichever occurs first) bumper-to-bumper New Vehicle Limited Warranty[6] and an eight-year/100,000-mile (whichever occurs first) limited warranty on the battery pack[7].
All of these cost estimates above will vary based on your unique situation. It may take a bit of homework but depending on your particular situation the #volkswagen #id4 might help you save some money and embrace electric driving at the same time.
Volkswagen ID.4-Large-12448
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