Shocking difference between what it costs a US driver to charge a Tesla monthly vs. using gas for a Honda Accord

There’s a shocking difference between what it costs a US driver to charge a Tesla monthly compared to what it costs using gas for a Honda Accord, and the numbers don’t lie.

If you thought running an EV was just about saving the planet, think again, because it might actually be the best money-saving hack ever.

Charging at home can actually save drivers hundreds of dollars a year, but a lot of people need convincing.

Using a Honda Accord as a traditional combustion engine-powered car example, we can see that traditional gas-powered cars are costing a lot more at the fuel pump than we might have thought.

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How much it costs to drive a Tesla vs. a Honda Accord

According to the Federal Highway Administration, a US driver of either an EV or a gas-powered car drives 1,123 miles per month on average.

Nasdaq decided that, using this as a basis, it was going to compare an EV, in the form of a Tesla, with the classic gas-powered car Honda Accord, and see how much it costs to charge or fill up with fuel respectively.

The study used the national average gas price of $3.19 per gallon and compared it to the cost of at-home charging.

A standard Honda Accord delivers around 32 miles per gallon, so to cover 1,123 miles in a month, you’d burn through about 35 gallons of fuel, which, at current prices, adds up to around $112 every month, or $1,344 a year.

Even if you step up to the Honda Accord Hybrid, which manages up to 48 miles per gallon, you’re still looking at $78 per month, which comes to about $936 a year.

Gas vs electric – the ongoing debate

When Nasdaq ran the numbers for Tesla models, the costs were dramatically lower than for the Honda Accord.

Take the Tesla Model 3 RWD, for example – driving the same 1,123 miles per month works out to about $49 in electricity costs, or roughly $588 over the course of a year.

Step up to the Tesla Model Y Long Range and the bill comes in only slightly higher, at around $54 a month, or $648 a year.

Even the much larger and less efficient Tesla Model X Dual Motor still only costs about $64 each month, which adds up to $768 annually.

Nasdaq notes these numbers are based on averages.

Charging at home is the cheapest way to run an EV for a US driver, while relying on public fast chargers could raise your costs.

Gas and electricity prices also vary by state, and your driving habits will make a difference, too.

In short, EVs aren’t just saving the planet, they’re saving your wallets too.

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