Hyundai Elantra Challenges Tesla Model 3 In Annual Car Ownership Cost Study

• A news study has ranked popular vehicles according to annual running costs.
• Fuel, insurance, maintenance and taxes were all factored into the rankings.
• The Tesla Model 3 topped the list as the most affordable, but only by a small margin.

We all fixate on the purchase price or monthly loan/lease cost when looking to get a new car, when the true cost of running a vehicle is affected by all kinds of other factors. Two years down the road the car that looked dirt cheap, might turn out to have cost you more than the one you crossed off your shopping list for being too expensive.

But which models really do have the lowest running costs, and which have the worst? A new study by Self set out to answer that question by crunching the numbers on 50 popular vehicles in the US on sale between 2022-24.

Related: Which Brand’s Cars Cost Least To Run Over 10 Years?

For each car, truck or SUV, analysts calculated the energy or ‘fuel’ costs, insurance and maintenance costs and the price of taxes and fees. We’ll get to the winners and losers in a second, but first let’s consider the cost of running the average vehicle based on the data.

Average running costs

	Cost	% of annual costs
Annual fuel costs	$2,246	34.8%
Annual insurance costs	$1,763	27.3%
Annual maintenance costs	$1,633	25.3%
Annual fees and taxes	$820	12.7%
Total	$6,462

Self

SWIPE

The average annual total cost came to $6,462, more than 34 percent of which ($2,246) is swallowed by fuel, the single biggest expense. Insurance and maintenance accounted for just over 25 percent each, with annual taxes and fees making up the rest.

But those numbers are skewed when you break the cars down by fuel type. The total running costs of the average hybrid ($5,485) are slightly lower than those for the average EV ($5,517) and much lower than for the average ICE car ($6,544). But within those columns there are also big differences. The average EV costs much less in fuel than the other two, but is far more expensive to insure.

Running costs by powertrain

	Electric	Gasoline	Hybrid
Annual fuel costs	$676	$2,364	$1,549
Annual maintenance	$1,297	$1,657	$1,518
Annual insurance	$2,368	$1,725	$1,670
Annual fees & taxes	$1,176	$798	$748
Total per year	$5,517	$6,544	$5,485

Self

SWIPE

Which is why when we look at the big table of car models, yes, the Tesla Model 3 comes top with an annual running cost of $5,061, but the combustion Hyundai Elantra is only $43 behind. The Elantra costs $979 more in energy and $292 in servicing every year, but is $694 less expensive to insure and saves you $533 in taxes and fees.

Predictably, the pricey end of the table is dominated by trucks and SUVs, the most expensive of which is the Chevy Tahoe. One of those monsters will cost you a hefty $3,276 every year in gas, and $8,644 overall.

Running costs by model

Rank	Brand	Model	Type	Annual Fuel cost	Annual Maintenance	Annual Insurance	Annual Fees & Taxes	Annual Running Cost
1	Tesla	Model 3	Electric	$636	$1,143	$2,241	$1,041	$5,061
2	Hyundai	Elantra	Gasoline	$1,615	$1,435	$1,547	$508	$5,104
3	Toyota	Corolla	Gasoline	$1,615	$1,497	$1,511	$559	$5,182
4	Kia	Forte	Gasoline	$1,712	$1,491	$1,540	$493	$5,235
5	Honda	Civic	Gasoline	$1,712	$1,608	$1,413	$549	$5,282
6	Honda	Accord	Gasoline	$1,737	$1,550	$1,492	$601	$5,380
7	Tesla	Model Y	Electric	$708	$1,339	$2,399	$947	$5,393
8	Nissan	Altima	Gasoline	$1,737	$1,559	$1,581	$571	$5,449
9	Toyota	Camry	Gasoline	$1,712	$1,598	$1,544	$608	$5,462
10	Honda	CR-V	Hybrid	$1,549	$1,518	$1,670	$748	$5,485
11	Honda	HR-V	Gasoline	$1,977	$1,593	$1,585	$570	$5,725
12	Nissan	Rogue	Gasoline	$1,820	$1,537	$1,795	$657	$5,809
13	Subaru	Crosstrek	Gasoline	$1,943	$1,617	$1,645	$641	$5,845
14	Ford	Maverick	Gasoline	$2,248	$1,494	$1,464	$643	$5,849
15	Ford	Escape	Gasoline	$1,977	$1,451	$1,745	$694	$5,867
16	Jeep	compass	Gasoline	$2,048	$1,441	$1,746	$654	$5,888
17	Chevrolet	Trax	Gasoline	$1,911	$1,852	$1,647	$506	$5,916
18	Chevrolet	Malibu	Gasoline	$1,849	$1,975	$1,544	$551	$5,919
19	Subaru	Forester	Gasoline	$1,943	$1,618	$1,670	$689	$5,921
20	Tesla	Model S	Electric	$684	$1,410	$2,463	$1,540	$6,097
21	Subaru	Outback	Gasoline	$1,977	$1,609	$1,725	$811	$6,122
22	Toyota	RAV4	Gasoline	$1,977	$1,657	$1,748	$750	$6,132
23	Chrysler	Pacifica	Gasoline	$2,440	$1,535	$1,370	$852	$6,197
24	Kia	Sorento	Gasoline	$2,124	$1,523	$1,829	$734	$6,211
25	Mazda	CX-5	Gasoline	$2,011	$1,731	$1,713	$764	$6,219
26	Hyundai	Tucson	Gasoline	$2,205	$1,559	$1,821	$748	$6,333
27	Kia	Sportage	Gasoline	$2,340	$1,509	$1,807	$689	$6,346
28	Ford	Edge	Gasoline	$2,340	$1,521	$1,856	$793	$6,510
29	Chevrolet	Equinox	Gasoline	$2,124	$2,042	$1,737	$680	$6,583
30	Hyundai	Santa Fe	Gasoline	$2,389	$1,508	$1,946	$813	$6,657
31	Jeep	Grand Cherokee	Gasoline	$2,548	$1,492	$1,863	$838	$6,741
32	Jeep	Wrangler	Gasoline	$2,866	$1,398	$1,812	$746	$6,823
33	Toyota	Highlander	Gasoline	$2,340	$1,764	$1,877	$857	$6,838
34	Toyota	Tacoma	Gasoline	$2,797	$1,595	$1,557	$898	$6,847
35	GMC	Terrain	Gasoline	$2,248	$2,105	$1,792	$731	$6,876
36	Honda	Pilot	Gasoline	$2,493	$1,713	$1,789	$930	$6,925
37	Chevrolet	Colorado	Gasoline	$2,797	$1,926	$1,541	$819	$7,083
38	Hyundai	Palisade	Gasoline	$2,655	$1,647	$1,969	$895	$7,166
39	Ford	Explorer	Gasoline	$2,730	$1,516	$1,968	$1,083	$7,297
40	Kia	Telluride	Gasoline	$2,730	$1,712	$1,981	$961	$7,385
41	Chevrolet	Traverse	Gasoline	$2,730	$1,952	$1,886	$863	$7,431
42	GMC	Sierra	Gasoline	$2,866	$1,956	$1,656	$978	$7,456
43	Toyota	Tundra	Gasoline	$2,797	$1,596	$1,787	$1,280	$7,460
44	Ford	Bronco	Gasoline	$3,185	$1,603	$1,899	$994	$7,681
45	Ford	F-Series	Gasoline	$3,276	$1,530	$1,683	$1,208	$7,697
46	Chevrolet	Silverado	Gasoline	$3,185	$1,871	$1,614	$1,029	$7,699
47	Toyota	4Runner	Gasoline	$3,276	$1,576	$1,897	$1,071	$7,820
48	RAM	RAM Pickup	Gasoline	$3,583	$1,690	$1,663	$1,045	$7,981
49	Lexus	RX	Gasoline	$2,871	$2,085	$2,051	$1,039	$8,046
50	Chevrolet	Tahoe	Gasoline	$3,276	$1,991	$2,058	$1,319	$8,644

Self

SWIPE

Next, the study team used the same data to rank brands according to running costs, and again, Tesla came top, with a total annual cost of $5,517. Nissan grabbed second spot, despite its best performing single model making it no higher than eighth in the model table. The average Nissan costs $5,629, whereas the study says you’ll pay $5,759 for a Honda, $5,963 for a Subaru and $6,315 for a Hyundai even though the Elantra scored well in the by-model rankings.

Most expensive brand? That dubious honor goes to Lexus, whose cars will on average cost you more than $8k every year, though it should be noted that most other luxury brands are missing from this list, and would likely cost you far more.

Running costs by brand

Brand	Fuel Costs	Annual Maintenance	Annual insurance	Annual Fees & Taxes	Total per year
Tesla	$676	$1,297	$2,368	$1,176	$5,517
Nissan	$1,779	$1,548	$1,688	$614	$5,629
Honda	$1,894	$1,596	$1,590	$680	$5,759
Subaru	$1,955	$1,615	$1,680	$714	$5,963
Hyundai	$2,216	$1,537	$1,821	$741	$6,315
Chrysler	$2,440	$1,535	$1,370	$852	$6,197
Mazda	$2,011	$1,731	$1,713	$764	$6,219
Kia	$2,226	$1,559	$1,790	$719	$6,294
Jeep	$2,487	$1,444	$1,807	$746	$6,484
Toyota	$2,359	$1,612	$1,703	$860	$6,534
Ford	$2,626	$1,519	$1,769	$903	$6,817
Chevrolet	$2,553	$1,944	$1,718	$824	$7,039
GMC	$2,557	$2,031	$1,724	$855	$7,166
RAM	$3,583	$1,690	$1,663	$1,045	$7,981
Lexus	$2,871	$2,085	$2,051	$1,039	$8,046

SWIPE

Source: Self

The Auto World