Howestreet.com - the source for market opinions

ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION

August 6, 2017 | EV’s Win: “It’s Not about Environmentalism. It’s about Fuel Savings.”

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

Maven is GM’s car-sharing service and not surprisingly they are adding a growing number of Chevrolet Bolt electric vehicles (EV) in response to consumer demand.  Slashing transportation costs by moving to shared EV is an obvious area to help consumers increase their disposable income for debt reduction and savings.  And the vehicles are so much more efficient for shared transport providers because EV longevity crushes ICE, logging 3 and 4 times the mileage.  See:  EV’s fuel GM’s car-share vision:

The Bolt costs a customer $229 a week, including insurance, maintenance and charging. That’s about $40 more than other vehicles, but customers end up saving about $70 a week on fuel costs.

Bhattacharya said drivers have, on average, put 30 percent more miles on the Bolts than cars with internal combustion engines. Since the Bolts began being offered in May, drivers have logged more than 1 million electric miles.

“Early interest has been phenomenal,” Bhattacharya said of consumers. “For most of them, it’s not about environmentalism. It’s about fuel savings.”

Now about all those acres and acres of antiquated ‘ICE’ inventories sitting bumper to bumper in storage all over the planet…

STAY INFORMED! Receive our Weekly Recap of thought provoking articles, podcasts, and radio delivered to your inbox for FREE! Sign up here for the HoweStreet.com Weekly Recap.

August 6th, 2017

Posted In: Juggling Dynamite

One Comment

  • Avatar Graham Reinders says:

    Hello Danielle,

    Yes this article is valid, but misses the absolute imperative, Modern internal combustion engines have a few million nuts, bolts and parts. The Electric car game is all bout ease of production automation and manufacturing costs, Also, no more drive-train, Gear-boxes, rear axles, most of the braking system. Then there is the almost eternal life of electric motors . This game is all about increased profits achievable in electric cars once they get to real mass production.

    Graham

Post a Comment:

Your email address will not be published. Required fields are marked *

All Comments are moderated before appearing on the site

*
*

This site uses Akismet to reduce spam. Learn how your comment data is processed.