When might lower-income drivers benefit from electric vehicles? Quantifying the economic equity implications of electric vehicle adoption

The vertical access shows the estimated price of the vehicles over time, and the colors show trends for the different models. [...] For example, the value of a 2020 model EV sold in 2025 is determined by the price of a new EV sold in 2025, not the original price of the new vehicle sold in 2020. [...] When comparing the cost of EVs and gasoline vehicles, we assume consumers would consider EVs of the same age and mileage at which they purchased their current gasoline vehicles and retain them for the same number of years. [...] The y-axis shows the average purchase price of new vehicles (stars) and used 2020-model- year vehicles (circles), by year on the x-axis, with the color of the lines showing the fuel type. [...] gasoline) Figure 6 shows the amortized annual total cost of ownership for a 2020 model-year vehicle purchased in the year shown on the x-axis, with the colors showing each of the four main cost components.