![]() ![]() ![]() When comparing the Mercedes-Benz EQB and the Ford Mustang Mach-E, the EQB is $2,899 cheaper overall than the Mach-E on a three-year lease. Leasing costs further amplify the disparity between luxury and mass-market EVs. However, the average five-year total cost of ownership for its ICE competitors is $51,477, a staggering difference of $16,242. In contrast, the Ford Mustang Mach-E, which is the least affordable EV in the mass-market compact SUV segment, has a five-year total cost of ownership of $67,719. Its ICE counterpart comes in at $71,420 over the same period, a difference of just $687. For example, the Mercedes-Benz EQB, the most affordable EV in the compact premium SUV segment, has an average five-year cost of ownership of $72,107. The disparity becomes even more evident when we delve into specific model-level comparisons. In stark contrast, the average five-year cost for a mass-market compact EV SUV is $60,736, a whopping $9,259 more than a comparable ICE vehicle. To put this in perspective, the average five-year total cost of ownership for a premium compact EV SUV is $71,707, only $287 higher than the ICE counterpart. On the other hand, mass-market brand buyers are shelling out 18.0% more to own an EV over a five-year period. In the compact SUV segment, which is the highest volume retail sales segment in the United States, premium brand EV buyers are paying just 0.4% more for an EV than a comparable internal combustion engine (ICE) vehicle. JD Power's data reveals a staggering difference in the cost of ownership between premium brand EVs and mass-market brand EVs. ![]()
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