Given the increased consumer market penetration of Electric Vehicles (EVs) and a recent focus on Hybrid vehicles by carmakers as another alternative to internal combustion engines (ICEs), consumers are now presented with a greater variety of choices. Given the inflationary trends, cost-conscious consumers seek to understand which choices would help them reduce expenses. This study evaluates cost efficiencies over time of multiple cars across three main categories of vehicles based on their powertrain (ICE, EV, and Hybrid) in the US market. A Data Envelopment Analysis approach is adopted to evaluate cost data over the first five years of ownership. This study is limited in scope because it emphasizes only cost efficiency, considers only a limited number of vehicle trims, and uses projected data. However, it is designed to provide the framework for future expanded studies on such vehicle trims' actual cost, and then energy and environmental efficiencies.
