Automakers are increasingly stepping back from EV-only product roadmaps in favor of more hybrids and PHEVs, and recent driving cost data between November 2022 and April 2023 from iSeeCars shows that this might be good for buyers in more ways than one. While electric vehicles can save money on gas, they cost more and are driven less, which makes the cost per mile much higher than that of other fuel types. Hybrids were found to be much less expensive to drive, dominating the list of the cheapest cars to drive per mile.
The 10 cheapest cars to drive per mile
The Honda Insight was the least expensive in the iSeeCars study, at $1,463 per 1,000 miles, or $1.46 per mile. Other vehicles on the list include:
Hybrid vehicle pricing continues to fall, making them more comparable with gas models. Those more reasonable purchase prices, combined with in-town fuel savings, make them appealing for buyers looking to put some miles on the clock, driving down their average cost per mile. Only one PHEV made the top 10 list, with two in the top 15, including the Toyota Prius Prime in 12th place at $2.71 per mile.
EVs are more expensive to buy than other fuel types, and high-end models tend to be driven less, giving them some of the highest per-mile costs in the study. The Porsche Taycan was the priciest vehicle in the study, at $22.02 per mile. The Porsche Cayenne PHEV, with its six-figure average purchase price, was second most expensive at $14.68. iSeeCars attributes many of the higher prices to the cars’ extreme average purchase prices, all of which exceeded $48,000. The BMW i3 was the cheapest, while the Taycan was the most expensive, at almost $140,000 on average.