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Electric Vehicles are Buzz now days, However is it really worth ? Specially when put in comparison with its Petrol or CNG counter Parts ? If you are confused about as to which one should you buy, this thread may help you to an extent. Please note the views expressed are as per my understanding and taking into consideration current scenarios.
Overview of Thread : In this i have compared 3 different models of NEXON running on different fuel systems to finally assess if EV is worth. Main purpose is to Find alternative to PETROL NEXON. The report is also made from same point of view.
Basis Of calculations :
1. I have used basic costing principle of BREAK EVEN POINT (BEP) to determine which fuel system will be most efficient. Break even simply means a point of time at which TOTAL COSTS under different Model will be same. However at any point BEFORE BEP the model with HIGH VARIABLE COST is beneficial or at any point AFTER BEP the model with LOW VARIABALE COST is beneficial. As we are using a vehicle our BEP will be in terms of KMs of vehicle.
2. Current Market prices are taken on Approximate basis
3. Only most certain costs are covered for calculation i.e PURCHASE PRICE and FUEL PRICES
4. Possible assumption used in methodology are made in the report by title POINTS TO NOTE
5. Although CNG does not come factory fitted based on few youtube reviews i have added the same in initial cost of NEXON petrol to get NEXON Cng cost
Analysis:
At this point i assume you have gone through report and understood majority of it.
1. Nexon EV vs Nexon Petrol
-The BEP point between EV and Petrol is 14952 KMs in this case if Your,
-Running is more than 14952 KMs per year then EV appears to be better option.
-Running is upto 14952 KMs per year then PETROL appears to be better option.
(i) At very Low Running of 1275 KMs per year (Not Practical) you save upto 85,755.75 per year by choosing Petrol
(ii) At Low Running of 5000 KMs per year you save upto 62,400 per year by choosing Petrol
(iii) At Moderate Running of 12000 KMs per year you save upto 18,510 per year by choosing Petrol
(iv) At High Running of 14952 KMs per year you will be INDIFFERENT in choosing any option as the cost is same
(v) At Very High Running of 20000 KMs per year you save upto 31,650 per year by choosing EV
(vi) At Extreme Running of 24000 KMs per year you save upto 56,730 per year by choosing EV
2. Nexon Petrol vs Nexon CNG
-The BEP point between EV and Petrol is 1275 KMs (Yes this is correct and not mistake) in this case if Your, (This 1275 KMs appears to be absurd but yes i wanted to take in calculation)
-Running is more than 1275 KMs per year then CNG appears to be better option.
-Running is upto 1275 KMs per year then PETROL appears to be better option.
(i) At Low Running of 1275 KMs per year you will be INDIFFERENT in choosing any option as the cost is same
(ii) At Low Running of 5000 KMs per year you save upto 21,509.56 per year by choosing CNG
(iii) At Moderate Running of 12000 KMs per year you save upto 63,073.33 per year by choosing CNG
(iv) At High Running of 14952 KMs per year you save upto 84,434.37 per year by choosing CNG
(v) At Very High Running of 20000 KMs per year you save upto 1,10,122.22 per year by choosing CNG
(vi) At Extreme Running of 24000 KMs per year you save upto 1,33,646 per year by choosing CNG
Conclusion:
At this point as per the calculations i believe that the PRICING of NEXON EV is way too high (However best VFM against any other EVs in this segment) which eats up the benefit of buying an EV over PETROL or CNG. This does not mean i am against EVs in fact i believe EVs are the future. The only point i am making here is those buying EVs blindly without looking at their RUNNING REQUIREMENTS (KMs) should definitely consider the huge price gap.
Attached here is the Image of the report. I will be happy to know others views.
Overview of Thread : In this i have compared 3 different models of NEXON running on different fuel systems to finally assess if EV is worth. Main purpose is to Find alternative to PETROL NEXON. The report is also made from same point of view.
Basis Of calculations :
1. I have used basic costing principle of BREAK EVEN POINT (BEP) to determine which fuel system will be most efficient. Break even simply means a point of time at which TOTAL COSTS under different Model will be same. However at any point BEFORE BEP the model with HIGH VARIABLE COST is beneficial or at any point AFTER BEP the model with LOW VARIABALE COST is beneficial. As we are using a vehicle our BEP will be in terms of KMs of vehicle.
2. Current Market prices are taken on Approximate basis
3. Only most certain costs are covered for calculation i.e PURCHASE PRICE and FUEL PRICES
4. Possible assumption used in methodology are made in the report by title POINTS TO NOTE
5. Although CNG does not come factory fitted based on few youtube reviews i have added the same in initial cost of NEXON petrol to get NEXON Cng cost
Analysis:
At this point i assume you have gone through report and understood majority of it.
1. Nexon EV vs Nexon Petrol
-The BEP point between EV and Petrol is 14952 KMs in this case if Your,
-Running is more than 14952 KMs per year then EV appears to be better option.
-Running is upto 14952 KMs per year then PETROL appears to be better option.
(i) At very Low Running of 1275 KMs per year (Not Practical) you save upto 85,755.75 per year by choosing Petrol
(ii) At Low Running of 5000 KMs per year you save upto 62,400 per year by choosing Petrol
(iii) At Moderate Running of 12000 KMs per year you save upto 18,510 per year by choosing Petrol
(iv) At High Running of 14952 KMs per year you will be INDIFFERENT in choosing any option as the cost is same
(v) At Very High Running of 20000 KMs per year you save upto 31,650 per year by choosing EV
(vi) At Extreme Running of 24000 KMs per year you save upto 56,730 per year by choosing EV
2. Nexon Petrol vs Nexon CNG
-The BEP point between EV and Petrol is 1275 KMs (Yes this is correct and not mistake) in this case if Your, (This 1275 KMs appears to be absurd but yes i wanted to take in calculation)
-Running is more than 1275 KMs per year then CNG appears to be better option.
-Running is upto 1275 KMs per year then PETROL appears to be better option.
(i) At Low Running of 1275 KMs per year you will be INDIFFERENT in choosing any option as the cost is same
(ii) At Low Running of 5000 KMs per year you save upto 21,509.56 per year by choosing CNG
(iii) At Moderate Running of 12000 KMs per year you save upto 63,073.33 per year by choosing CNG
(iv) At High Running of 14952 KMs per year you save upto 84,434.37 per year by choosing CNG
(v) At Very High Running of 20000 KMs per year you save upto 1,10,122.22 per year by choosing CNG
(vi) At Extreme Running of 24000 KMs per year you save upto 1,33,646 per year by choosing CNG
Conclusion:
At this point as per the calculations i believe that the PRICING of NEXON EV is way too high (However best VFM against any other EVs in this segment) which eats up the benefit of buying an EV over PETROL or CNG. This does not mean i am against EVs in fact i believe EVs are the future. The only point i am making here is those buying EVs blindly without looking at their RUNNING REQUIREMENTS (KMs) should definitely consider the huge price gap.
Attached here is the Image of the report. I will be happy to know others views.
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