Tag Archives

Archive of posts published in the category: ownership
Apr
26

Demographic Shifts: Shaping the Future of Car Ownership

Cars have been at the heart of American culture for more than a century. Until recently, getting a license and buying a car were considered rites of passage, and the car you chose was widely regarded as an expression of your identity, reflecting your priorities and revealing your status.

All that is now changing. The advent of car sharing, ride-hailing and self-driving vehicles presages a radical transformation in consumer behavior. The future of personal transportation will be determined by technological advances, informed by the needs and desires of the people who use them. Our understanding of who those consumers are and what choices they are likely to make is changing in surprising ways.

Car-loving Boomers Are Headed for Cities

Consider baby boomers, the generation born between 1946 and 1964. They may no longer be the largest generation in the U.S. (their kids, the 19- to 35-year-old millennials, now outnumber them slightly), but boomers are likely to continue playing a major role in shaping the future of the auto industry and the rapidly evolving “sharing economy.”

Given the boomers’ affection for cars, it’s not surprising that adults over 50 bought nearly two-thirds of the new cars sold in the U.S. in 2011, according to an AARP study. Unlike earlier generations, today’s seniors “are refusing to follow their parents’ lead and go quietly into the car-buying night,” according to a 2013 article in Bloomberg News. In fact, nearly 93% of Americans between 60 and 64 had driver’s licenses in 2011, up from only 84% in 1983.

What is surprising is that seniors are participating in the well-documented mass migration to urban centers. Despite the common assumption that millennials will dominate the urban landscape in the coming years, recent studies suggest that boomers are also locating there in droves. “Instead of migrating south en masse to retirement communities in the Sunshine State or the wilds of Arizona,” wrote Realtor.com, “more and more baby boomers — a particularly urban-savvy group of Americans — are moving back to the metro areas they abandoned when they began raising families.”

And these older urbanites are anything but sedentary. Rather than retiring, 87% say a shorter commute to work is a major reason for their move to the city, according to a recent Zipcar study. Moreover, when they are not working, the study said, “An overwhelming 90% are seeking to boost their cultural experiences, with easy access to a variety of restaurants, shops and fitness facilities.”

“Millennials have a lower rate of car ownership than previous generations at their age.” –Sam Abuelsamid, Navigant Research

All this activity makes urban boomers active consumers. “Between 2015 and 2030, the 60-plus age group in the United States, for instance, is projected to contribute 40% or more of consumption growth in categories such as personal care, housing, transportation, entertainment, and food and alcoholic beverages,” reported a 2016 study by the McKinsey Global Institute titled “Urban World: The Global Consumers to Watch.”

For boomers who keep their cars in the city, ride-hailing offers

Apr
5

Electric Vehicle Total Cost Of Ownership Calculator

Cars


Published on March 28th, 2020 |
by Zachary Shahan





March 28th, 2020 by Zachary Shahan 


We’re quite fond of running and publishing total cost of ownership forecasts here, whether comparing the Tesla Model 3 with the BMW 3 Series, comparing the Tesla Model Y with the Mercedes-AMG GLE 63 S, or comparing the Volkswagen ID.3 with the Volkswagen Golf. California utility PG&E Corporation has also joined the cost of ownership fun. It has a cost of ownership calculation tool for 52 electric vehicles on the market in California (plug-in hybrids as well as fully electric vehicles).

The example on the first page is the Tesla Model 3 Long Range versus the Volkswagen Golf R.

Clicking for details on what goes into the calculations, you get the following table, indicating that the 5 year cost of ownership comparison takes into account estimates for upfront price, electricity costs over time for the Model 3, gasoline costs over time for the Golf R, maintenance costs, and insurance costs:

I presume the calculator uses California medians for miles driven, electricity costs (probably a PG&E median here), gasoline costs, and perhaps insurance costs. Estimating maintenance costs is more of an art at this point, and how they determine insurance cost estimates is unclear to me, as that’s always been a tricky business.

Going a bit further, you can select your preferred EV here, can sort by EV type (full electric versus plug-in hybrid) or vehicle class, and also modify expected miles by changing the roundtrip commute distance, among other things.

One thing missing from the PG&E model is resale value. [UPDATE: Actually, it appears the initial cost includes an estimate for resale value in the equation.] Since it’s a 5 year cost of ownership model, that doesn’t really matter if you plan to keep the car for longer — say, 10 or so years. However, resale value should be a part of any true total cost of ownership calculation, especially when you consider that the Tesla Model 3 is expected to have much better resale value than competing cars. Nonetheless, even among those who do TCO (total cost of ownership) comparisons, I think it’s very uncommon to compare estimated resale values. You can always add that in fairly easily yourself, or can just use my comparison sheet.

If you’d like to explore and toy with the various assumptions, you can do so here.

Here’s one more example from me, the Hyundai Kona EV versus a similar non-electric Hyundai Kona:

 
 

Follow CleanTechnica on Google News.
It will make you happy & help you live in peace for the rest of your life.




Tags: California, EV TCO, Hyundai, Hyundai Kona, Hyundai Kona EV, PG&E, Tesla, Tesla Model 3, Tesla Model 3 TCO, Utilities





About the Author

Zachary Shahan is tryin’ to help society help itself one word at a time. He spends most of his time here on CleanTechnica as its director,

Apr
4

Transfer Of Automobile Ownership Documents

Shopping for hybrid cars can appear a bit of daunting but not within the manner in what chances are you’ll think, the complication in shopping for a Hybrid car is which one it’s best to choose. GM has developed a quick reference guide for pairing and using your Bluetooth cellular phone together with your new vehicle. There are additionally a number of tax deductions for brand spanking new buyers of hybrid vehicles, and several other cities are additionally providing free parking as a further incentive for low-emissions vehicles.

See Vehicle Insurance Necessities You have to present a Nevada Evidence of Insurance coverage card at registration and carry one in your vehicle always. High Occupancy Vehicle (HOV) lanes, or ‘carpool lanes,’ are supposed to extend the circulation of traffic by decreasing the quantity of vehicles on the road.

A passenger vehicle is a motor vehicle designed or adapted primarily to hold individuals on highways and streets. The racing legend and his company made these collection of vehicles from 1955. The next day I began the car and my “examine engine” light came on and has stayed on. Drive Clever rep instructed I take away it, wait five minutes, and reinstall.

A GPS system is technically not designed to track a vehicle, however rather actively provide info to allow the driving force to navigate successfully from one specific location to a different preprogrammed vacation spot. This value can be enhanced or impaired by the presence of the motive force.

If the vehicle is owned by an unincorporated body, a number of individuals or an emergency response organisation (e.g. SES, CFA or municipality vehicles), an individual may be nominated as the registered operator. Electric automotive maker ZAP recently introduced that their electrical automobile may travel up to 100 miles per single charge, but many people drive extra miles than that spherical trip on a every day commute to work.

Continuous track is typically used instead of wheels to energy land vehicles. A detailed map of the vehicles location may be sent a cellphone or laptop system. Vehicle expenses will include fuel, tires, repairs, oil changes, registration costs, licensing, insurance and so on. In lots of instances, the precise expense deduction will find yourself being bigger than the usual mileage deduction.…