Hi, I need Help with my assignment please... You are thinking about buying a new

Question

Hi, I need Help with my assignment please...

You are thinking about buying a new vehicle. It comes with two options, totally electric or normal gasoline engine. Get the price of the vehicle of your choice in the different options from www.edmunds.com.

Check the specifications regarding gas mileage and whatever. Assume you will drive 3,000 city miles and 10,000 highway miles per year.

Calculate at what point during the year you will get a break-even on the cost differential and write a short report on the options

Explanation / Answer

here I would like to make comparison in 2013 tesla model S with BMW series 7over the same distance of 23000 miles.

I found these specifications

Average cost of electricity in California: 16 cents per kilowatthour (kWh).

Average cost of premium gas in California in 2013: $4.09

Miles driven: 23,000

Fuel efficiency of the BMW 7 Series: 19 mpg

Fuel efficiency for Tesla: 3 miles/kilowatthour

And here are the results:

Cost of electricity to drive the Tesla 23,000 miles: $1,226

Cost of premium gas to drive BMW 7 Series 23,000 miles: $4,951

Money saved on fuel by driving Tesla: $3,724

Also keep in mind that these figures are just for 23,000 miles. Over 100,000 miles the savings in fuel costs is $16,192.

so on that basis electric vehicle is more cost effecient then the normal gasoline engine.

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