From the existing standard of about 30 mpg to 55 mpg. Over a 12000 miles per year (high estimate) that is a savings of about 180 gallons of fuel. At $4 per gallon that works out to an annual savings of $720. That makes the break even on $2,000 ... 2 years and 9 months.
If we use more normal numbers of 10,000 miles and $3.50 per gallon, then the savings is 150 gallons per year, $525 or 3 years 10 months break even.
And that’s under the big “if” where everything goes fine. Since government is involved, I’d say it will go from 30 to 35 mpg and will add $4,000 to the price.
“If we use more normal numbers of 10,000 miles and $3.50 per gallon, then the savings is 150 gallons per year, $525 or 3 years 10 months break even.”
If you ignore higher interest, sales tax, unknown depreciation, loss of trade in value and loss of freedom by being forced to buy a tin foil rickshaw.
There has never been a government mandate that didn’t carry unintended consequences far beyond the benefits.
Cash for clunkers anyone?