re: General Motors to introduce 20 new electric cars over the next 6 years

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It's not 11 years of gas is $2/gal. It's 30+.

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I was assuming $2.5/gallon, and 3% inflation. You do have a point though in that electric cars will eat into demand of gas, cutting the price.

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And corollas don't cost a lot in maintenance, and we know will last at least 10 years. Will an electric vehicle last 10 years without any major repairs? If the electric vehicle is $35k and a corolla is $15k, insurance costs will be higher on the electric.

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I was assuming a 2017 Corolla at $20,000, and a Bolt at $30k.

For 15000 miles, at 30 mpg, and $8/charge for 250 miles, my numbers are as follows...

Corolla:
Year 0:$20,000 + (15,000 miles)(1 gallon/30 miles)($2.5/gallon= $20,000+ $1250
Year 1: $1287
Year 2: $1326
Year 3: $1365
Year 4: $1406
Year 5: $1449
Year 6: $1492
Year 7: $1537
Year 8: $1583
Year 9: $1630
Year 10:$1679

Total Sum at end of year 10: $36009.74

Bolt:

Year0: 30,000+($8/250 miles)(15000 miles)= 30,000+$480
Year1: $494
Year2: $509
Year3: $524
Year4: $540
Year5: $556
Year6: $573
Year7: $590
Year8: $608
Year9: $626
Year10:$645

Total sum at end of year 10: $36147

Eta:it was much easier to punch into a spreadsheet than type it out here .