EVs are Driving Vehicle Efficiency to New Levels: Here Are the 10 Most Efficient Vehicles in the U.S.
I have always been a fuel economy nerd and have kept a close eye on automotive vehicle efficiency over the last 2 decades. In this article, I have put together a list of the 10 most efficient vehicles of 2024 that are sold in the United States market, along with their specs and pricing. When I first started compiling this list, every single vehicle on the list was a gasoline-electric hybrid (primarily relying on a gasoline internal combustion engine, like the original Toyota Prius) or simply a small, efficient gas-powered vehicle. Today, all of the vehicles on this list are plug-in electric vehicles, 100% powered by electricity – so I guess you could say I’m an “electricity economy” nerd (and not a “fuel economy” nerd) these days?
This shift to electrified transportation will be the trend for the next few decades, until hydrogen or another power source technology overtakes electricity. It can’t come soon enough, as the fleet-wide average for new vehicles sold in the U.S. today is just 26 MPG with a proposal to raise the requirement to 58 MPG by 2032. Every EV on this list surpasses the 100 MPGe efficiency mark with ease.
I also keep track of the cheapest new cars and cheapest electric cars for many of the same nerd reasons – I love seeing technological improvements that drive price and performance efficiency. Maybe I missed my true calling as an engineer? With all of the climate and weather disasters that we’ve seen in the past few years, there is an urgency in efficiency gains and the shift of consumer vehicle fleets from gas to 100% electric drivetrains. The transportation sector is the largest source of emissions in the United States and even if electric vehicles are 100% powered upstream by today’s power grid and its current energy-sources, they produce only about one-quarter of the total CO2 of new gas powered vehicles.
Mileage Efficiency and Vehicle Cost Efficiency are Mutually Exclusive with EVs
As a personal finance writer, I should note that electric vehicles are typically still more expensive than their gasoline counterparts in terms of purchase price (though a few vehicles are starting to challenge that paradigm). Total cost of ownership, on the other hand, is starting to tilt in favor of electric vehicles. The cost of battery technology has plummeted in recent years, bringing down purchase prices, while the ongoing maintenance and energy costs of electric vehicles have always been lower than gasoline.
The Hyundai Ioniq 6 vaults into the #1 spot as the most efficient vehicle of 2024.
The folks over at MIT have put together interesting data showing the monthly costs and emissions (including upstream emissions for electric vehicles) of most mass-produced vehicles sold in the U.S. market over the last few years. It is worth a look to compare vehicles and emphasize the point that monthly costs for electric vehicles are now comparable to hybrid and gas-powered vehicles. And, there is up to $7,500 in federal electric vehicle tax credits (a must read for those interested in buying an EV) and a number of state electric vehicle tax credits and rebates (another must read) available for a number of electric vehicle manufacturers, impacting those economics even further.
Also, keep an eye on the new federal energy tax credits and rebates. There are significant updates that resulted from the Inflation Reduction Act available (including solar panels, electrical panels, battery storage, and EV charging) that could make the prospect of electric vehicle ownership an even bigger cost-saving venture. All of that said – there are definitely a few vehicles on this list that should be considered unattainable by all but the mega-rich with their price tags. With high-end EVs, mileage efficiency and vehicle cost efficiency are mutually exclusive. And, you’d have a hard time convincing me that any $50K+ depreciating asset is justifiable.
There have been a number of new developments in recent years that point to an even more promising near future for electric vehicles. Just about every major vehicle manufacturer has announced billions in electrical vehicle and battery manufacturing investments. And, despite recent tax credit limitations due to strict battery and component manufacturing requirements, EV sales have still increased to record numbers and market share in the United States.
2024 Electric Vehicle MPGe Efficiency, Cost, & Other Metrics
For the specs listed below, vehicle efficiency (MPGe, or Miles Per Gallon equivalent), CO2 emissions (in grams/mile), and annual energy (electricity) cost metrics were gathered from the EPA’s fueleconomy.gov site. Upstream CO2 emissions are national averages (assuming the individual does not have their own electricity generated and is purchasing from a utility), and compare to a new vehicle average of 400 grams/mile (tailpipe + upstream). Annual energy costs listed are based on 45% highway, 55% city driving, 15,000 annual miles and $0.15 per kWh of electricity.
For MSRP, I have listed the prices prior to any federal or state tax credits, which could greatly reduce cost. There is a federal Clean Vehicle Tax Credit available of up to $7,500 available for purchases on approved electric vehicles (eligibility varies based on your tax situation as well as the vehicle make/model). Credits were recently modified and expanded via the Inflation Reduction Act. New battery material and sourcing requirements have limited the list of EVs still eligible for tax credits on new purchases in the short-term, but manufacturers are already adjusting their supply chains to meet the requirements. Meanwhile, many used EVs and many leased EVs are newly eligible for the EV tax credits (the latter is typically being passed on to consumers in the form of “EV lease tax credit offers“).
Notes on the Ranking of the Most Efficient Vehicles for 2024
The BMW i4 eDrive35 Gran Coupe (#8), and Hyundai Ioniq 6 (#1) are new EVs that jump on to this list of the most efficient vehicles. They displace the Kia Niro EV (#10) and Chevy Bolt EUV (#9) from last year’s list.
A number of highly efficient EVs are expected to launch in 2024, so next year’s list may look very different.
The Most Efficient Vehicles in 2024 Sold in the US:
Here are the top 10 most efficient cars (vehicles) of 2024 sold in the United States, from #10 to #1.
10. Kia EV6 – Light RWD Standard Range
- MSRP (before tax credits or other incentives): $43,975
- Country of Origin (Manufacture): South Korea
- Engine: Electric Drive
- Combined MPGe: 117
- City MPGe: 136
- Highway MPGe: 100
- Annual Energy Cost: $650
- CO2 Tailpipe Emissions: 0 grams/mile
- Upstream CO2 Emissions (national average): 122 grams/mile
- Battery Range: 232 miles
9. Toyota bZ4X
- MSRP (before tax credits or other incentives): $44,420
- Country of Origin (Manufacture): Japan
- Engine: Electric Drive
- Combined MPGe: 119
- City MPGe: 131
- Highway MPGe: 107
- Annual Energy Cost: $650
- CO2 Tailpipe Emissions: 0 grams/mile
- Upstream CO2 Emissions (national average): 122 grams/mile
- Battery Range: 252 miles
8. BMW i4 eDrive35 Gran Coupe
- MSRP (before tax credits or other incentives): $53,195
- Country of Origin (Manufacture): Germany
- Engine: Electric Drive
- Combined MPGe: 120
- City MPGe: 122
- Highway MPGe: 119
- Annual Energy Cost: $650
- CO2 Tailpipe Emissions: 0 grams/mile
- Upstream CO2 Emissions (national average): 120 grams/mile
- Battery Range: 276 miles
7. Tesla Model S
- MSRP (before tax credits or other incentives): $76,630
- Country of Origin (Manufacture): USA
- Engine: Electric Drive
- Combined MPGe: 120
- City MPGe: 124
- Highway MPGe: 115
- Annual Energy Cost: $600
- CO2 Tailpipe Emissions: 0 grams/mile
- Upstream CO2 Emissions (national average): 120 grams/mile
- Battery Range: 405 miles
6. Chevy Bolt EV
- MSRP (before tax credits or other incentives): $27,495
- Country of Origin (Manufacture): USA
- Engine: Electric Drive
- Combined MPGe: 120
- City MPGe: 131
- Highway MPGe: 109
- Annual Energy Cost: $650
- CO2 Tailpipe Emissions: 0 grams/mile
- Upstream CO2 Emissions (national average): 121 grams/mile
- Battery Range: 259
5. Hyundai Kona Electric
- MSRP (before tax credits or other incentives): $34,010
- Country of Origin (Manufacture): South Korea
- Engine: Electric Drive
- Combined MPGe: 120
- City MPGe: 134
- Highway MPGe: 106
- Annual Energy Cost: $600
- CO2 Tailpipe Emissions: 0 grams/mile
- Upstream CO2 Emissions (national average): 118 grams/mile
- Battery Range: 258 miles
4. Tesla Model Y – AWD
- MSRP (before tax credits or other incentives): $45,380
- Country of Origin (Manufacture): USA
- Engine: Electric Drive
- Combined MPGe: 123
- City MPGe: 129
- Highway MPGe: 116
- Annual Energy Cost: $600
- CO2 Tailpipe Emissions: 0 grams/mile
- Upstream CO2 Emissions (national average): 118 grams/mile
- Battery Range: 279 miles
3. Tesla Model 3 – RWD
- MSRP (before tax credits or other incentives): $40,630
- Country of Origin (Manufacture): USA
- Engine: Electric Drive
- Combined MPGe: 132
- City MPGe: 138
- Highway MPGe: 126
- Annual Energy Cost: $550
- CO2 Tailpipe Emissions: 0 grams/mile
- Upstream CO2 Emissions (national average): 109 grams/mile
- Battery Range: 272
2. Lucid Air – Pure RWD
- MSRP (before tax credits or other incentives): $78,900
- Country of Origin (Manufacture): USA
- Engine: Electric Drive
- Combined MPGe: 137
- City MPGe: 140
- Highway MPGe: 134
- Annual Energy Cost: $550
- CO2 Tailpipe Emissions: 0 grams/mile
- Upstream CO2 Emissions (national average): 106 grams/mile
- Battery Range: 419 miles
1. Hyundai Ioniq 6 – Long Range RWD
- MSRP (before tax credits or other incentives): $43,565
- Country of Origin (Manufacture): South Korea
- Engine: Electric Drive
- Combined MPGe: 140
- City MPGe: 153
- Highway MPGe: 127
- Annual Energy Cost: $550
- CO2 Tailpipe Emissions: 0 grams/mile
- Upstream CO2 Emissions (national average): 101 grams/mile
- Battery Range: 361 miles