WEBVTT
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Welcome to another InWheel Time podcast.
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Welcome to the In Wheel Time Car Talk Show coming up, Aiden Brexton.
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With Anderson Economics and the cost difference in owning an EV versus gasoline.
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There are some surprises in this, and I think that you'll be just as surprised.
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Uh, let's see what else we have later.
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Jeff's Car Culture.
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Big rig sleepers.
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Yeah.
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What's inside?
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Woohoohoo.
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Mystery.
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And driving destinations.
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Mars has Central and West Texas car museums, and we'll have some other stuff.
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We don't know what it is yet, but maybe you show them the blanks.
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I can tell you that.
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Howdy! Along with Mike out of this world, Mars from Neederville, Texas.
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Now we always need more Jeff Z.
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Chief Engineer David Ainsley is on his final leg of his South Carolina tour.
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I'm Doug Armstrong, and you're stuck with me for the next episode.
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Phew! Thank you very much for joining us today.
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It's a pleasure.
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And uh Mr.
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Mars, it's good to be with you and good to see you over there.
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Good to be seen, I promise.
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Yeah.
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Did you have a good week?
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Good week.
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Did you good?
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Well, we're glad to hear that.
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No uh no explosions or anything.
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Hiccups.
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There's a few hiccups, you know, but that kind of comes with uh territory.
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Yeah, with his 15 grandchildren all living with him, all of that sort of stuff.
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Just to keep you busy.
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Yeah, that's it.
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So do we have Aiden with us?
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Yes, sir.
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Aiden Bregsman with the Anderson Economics Group.
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It's good to be with you, my friend.
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Thanks so much for joining us today.
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Yeah, thank you guys for having me back on.
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Yep, and uh so this is uh an interesting comparison that you've got here because I thought for sure that gasoline would beat electric, but in some instances it does not, does it?
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Yeah, that's that's what we find.
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We've been um doing this fueling cost comparison since 2021, and we've been expanding it over those years.
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Um, so we really started just looking at Michigan, we've now expanded to California and New York as well.
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California.
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Yep, doing the calculations.
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We figured that would be interesting given they have lots of EV adoption and a different you know charging infrastructure there, and it's pretty big.
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Um so yes, we do find that across those three states, luxury EV models are actually cheaper to fuel the EVs and the ICE vehicles, primarily if you're charging at home.
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But that that's only to charge it, correct?
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That's not the actual price going in and the price to repair or replace the batteries.
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There are other factors involved, correct?
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Correct, yeah.
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So this doesn't take into account, you know, the the purchasing price or repairs or things like that.
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So this is strictly, you know, you own the car, we're just looking at one car versus another if you were to have one in your driveway.
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Um, how much it would cost to fuel a comparable gas-powered vehicle versus electric.
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So I have to share with you that last week I had an electric vehicle.
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And it was a pole star, or like I like to call it a pole cat.
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You may be familiar with it.
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Uh Geely Motors, all made in China for the most part.
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Anyway, nice vehicle.
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But um range was 300, and that's I I got it with uh almost a full charge, 300 miles is what it said on the on the display on the thing.
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And it didn't live up to that, but I didn't really expect it to.
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I think uh probably 250 is all it would actually get to.
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So right around the corner from my office is a fast charging station, a big one.
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Um, I think BG owns it or uh some some big outfit owner owns this thing.
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It's very nice, it's all brand new.
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But the trick to that is$35, and you don't have a choice.
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You want 10% charge,$35.
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You want an 85% charge,$35.
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Hello?
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No, that that isn't the way it works.
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If I want to buy five dollars worth of gas, I can do that, but not with this charging station.
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So let me hear your thoughts on that.
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Yeah, that that's a really good point you raise.
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And and we, you know, we've seen that, and I've seen that in looking at the data.
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So we do our own um part of our inputs for the calculations for EVs are residential rates in the three states, and then we do our calculation of commercial rates using data from the EIA.
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They publish these commercial charging rates, and we look at DC fast chargers in particular.
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Um and you do see in those all different pricing schemes, some of them are you know certain cents per kilowatt hour, others, as you said, have kind of a flat fee just to even start using it, and then they charge for the per kilowatt hour rate on top of that.
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Um very wide variety.
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There's not really a one-size-fits-all pricing scheme for these, so it does depend just what kind of charges you have available and and what they could decide to charge if there's a flat fee on top of that, if it's just like per kilowatt hour, it depends.
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So give us a comparison.
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Um, I don't really know how fair it can be.
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It can only be as fair as you want it to be, I think.
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Because how do you compare a gasoline vehicle that here in Texas, I've got a station that between my work and and home, two dollars a gallon if you pay gas, uh to pay cash, two dollars a gallon versus a thirty-five dollar charge to get it an 85% charge on an electric vehicle.
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So do a comparison for me.
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Give me a you know, a Chevy Volt or what name something.
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Well, uh so it's interesting because you know, we do this is strictly, you know, a numbers comparison, right?
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We're looking at just strictly the fueling if you have, you know, car A, car B, what that's gonna look like for that sort of sense.
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Something that we, you know, we also make apparent when we do these releases is we're not trying to tell people what car they should buy.
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It obviously, just like anything, comes down to your own personal preference, your personal taste.
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So maybe, maybe that$35 upfront charge for doing the charging doesn't matter to you so much because you maybe you just feel better knowing that you're driving an EV compared to an ice car, or you like maybe the convenience that it's right next to your work.
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Maybe there's a gas station further away.
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So there are other factors too, besides just the cost that will go into it, depending on if somebody wants to purchase an EV or stick with their ice vehicle.
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And that's the answer.
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Your choice.
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Good, good sidestep.
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Your choice.
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All right.
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So do you drive an EV?
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I do not know.
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I I drive, I'm pretty old school.
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I got a 2009 Pontiac Vibe.
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Uh so I'm driving a time.
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Pontiac Vibe, which if I'm not mistaken, I believe underneath that thing it's a Toyota.
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Pretty much, yeah.
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We've uh I had a friend who owned a Toyota Matrix, and we put those things side by side, and it was almost identical.
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And a great car, by the way.
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That's got some line just turning into a classic.
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Yeah, exactly.
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So you you're driving a classic.
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We had a street.
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I am, and you'd honestly be surprised how many Pontiac vibes you see on the road here in Lansing and honestly in Michigan.
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I I see more Pontiac vibes than I think I would have thought.
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Is rust an issue with your Pontiac vibe?
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Uh not visible.
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I think underneath there's probably some more rust, but you know, thankfully, come on, everything that people can see is it's in pretty good condition.
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All right, so let's go back to the ICE internal combustion engine versus an EV.
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Give us some hard numbers here.
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Give us an example.
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Sure.
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Um, so if we, you know, we'll I'll look at Michigan because that's our, you know, that's where we're based.
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Yeah.
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Where the big three are based, and that's where we where this whole journey began.
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So um if we're looking at you know your entry-priced vehicles, and that's gonna include, you know, for ice vehicles, models like Honda Civics, Kio Forte's, uh, Subaru Imprezas for the EVs, we only have a couple models, but Nissan Leaf, Chevy, Chevy Bolt.
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Um for Michigan, ICE is the winner here.
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We're looking at about$9.10 to fuel for 100 purposeful miles.
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That's how we keep the comparison apples to apples if we're just considering somebody driving 100 miles.
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And this doesn't include the miles it takes to drive to either gas stations or charging stations if you're gonna just going to actual places.
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So nine dollars for an uh entry ice vehicle.
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For EVs, we do two different main calculations.
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Somebody who's charging mostly at home, so 75% of their power comes from home chargers versus 25% commercial, and the flip side, so mostly commercial versus uh mostly at only 25% at home.
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For somebody charging mostly at home, we're looking at in Michigan for entry about$13.40, and for mostly commercial,$16.16.
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So quite a bigger jump if we're going from ice to EVs.
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Yeah, not quite double.
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Um on the flip side though, if we're looking at the luxury, which is the segment that we find typically is more affordable charging an EV at home versus an ice fueling on the road.
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Um for luxury ice vehicles, you know, lots of Lexus and BMW and Porsche models.
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For the ice vehicles, we're looking at about$17 to fuel that for 100 miles.
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Whereas the EV models, if they're charging mostly at home,$14.43.
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So you're seeing, you know, almost a$3 savings there if you're charging this EV model at home.
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And mostly that's primarily due to the fact that if you're charging at home, you're still using that residential rate.
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But now going to the luxury models, you're now looking at premium gas prices, which are here's what I see on that.
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Uh yeah.
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Here's what I see on that.
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You said luxury model.
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So obviously the initial unit cost of that vehicle is going to be higher.
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And charging at home for a smaller vehicle, like you said, the uh the smaller EVs is around$13,$14 versus the nine for 100 miles.
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So the larger vehicle you're actually paying, even though the cost of the fuel is less, you're still paying more for the vehicle.
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I mean, there's got to be factored in there.
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That's true.
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And also what I what I'm kind of noticing too is you can also, you know, that's looking just between the seg or within the segment rather, but you can also kind of compare these, you know, between the segments and think, well, maybe if you're eyeballing, maybe let's say a luxury vehicle, you know, you could step down to maybe a mid-price and you're gonna be paying less in total.
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Like, for example, the charging a luxury EV at home is$14.43.
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Right.
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But mid-priced EVs at home$13.47.
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So you're looking at, you know, that's a dollar savings relatively there from luxury EV to mid-priced EV.
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So there's also that sort of comparison you can make too as a consumer.
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How much does it cost to put a charger system nowadays?
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The new technology, I'm sure, has been advanced since before the first ones were put in.
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What does it cost to put a charger in your home?
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You know?
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Uh yeah, so that that's one of the calculations we do.
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Um we look at level two home chargers and the cost to install that.
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We use um construction pricing rates to see how that would kind of grow over time.
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Yeah, you put any permits and all that.
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Yeah, yeah.
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So it it's not as easy.
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You know, the level one is just plugging it into a regular wall out.
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Level two, they have to come in, do some installation, but it does charge your vehicle significantly faster at home.
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Well, last time I looked, it was about$1,500 for the unit itself plus installation.
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Yeah, so with all of that together, we're seeing a little bit over, like, you know, in the mid$2,000 range for this installation.
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So yeah, that that is factored in as well, and that's obviously an upfront cost that you, if you want to be charging at home and want to be doing it more quickly, that you'll have to make as a consumer.
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I kind of relate that to these these devices where your power goes out and they use the gas to regenerate or the generac and things like that.
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So they're about you know anywhere from five grand on up.
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Yeah, because I know people that have them, uh have two of them, as a matter of fact.
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So that's uh that's the way I relate to that.
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So, what would it cost to put a tank in the ground and fill it with gas?
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If you could get a product to do it.
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I don't know.
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That's that's that's that's a good question.
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That's a little outside of it.
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So there you're gonna have to make an addendum to the study because Jeff wants fuel in the ground.
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We'll we'll we'll see what we can do there.
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I'm thinking I'm thinking of some sort of a natural gas thing that you could hook it up to the stove or something.
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Tap into Billy Bob's tank down the street next door.
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Well, what they do, what they do down along the coast, they uh they have some generacts put in because of the hurricanes.
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Well, they've gone to running gas, natural gas, but they're burying the tank under the ground and piping it up to the generator, which is about 20 feet in the air.
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But I mean, that's down on the beach.
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But yeah, they are doing that with natural gas.
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So anything really standout that you'd like to tell us about?
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Um, some it's a little tangential to our our fueling costs, but we also look at um automotive sales too over time.
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We track that.
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We have an automotive dashboard on our Anderson Economic Group website that we update quarterly.
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Um something that I'm sure as you guys are aware, being you know tapped into the motor vehicle industry.
00:13:57.840 --> 00:14:04.000
Um quarter three, coinciding with our fueling costs, we also looked at EV sales.
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Um, we noticed a jump in EV sales in quarter three, 2025, uh, due in part, largely really the um EV tax credits were expiring at the end of that quarter.
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Yeah.
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Um so as you would expect, people that were maybe on the fence of purchasing one when they find out they're gonna lose that incentive, which for new EVs is up to$7,500, they would go and purchase that before the the deadline so they could at least get you know some financial help from that and and mitigate the cost.
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So we see a huge jump there.
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Um and interestingly as well, we're seeing in you know relation to the tariffs that we're seeing sales of vehicles overall going down, but we'd then interestingly see the EV sales going up.
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So a very interesting quarter in terms of sales that vehicles overall were down, but EVs and EVs has a share of total sales were up.
00:14:53.919 --> 00:15:03.840
So when you're all sitting around the uh conference room table and discussing these sorts of things, do you look toward the future and think, okay, well, this is trending this way.
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Maybe we need to skew our study toward that next time because it would be probably more relevant since everything is always in flux.
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Yeah.
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Yeah, I mean we're always we're always looking to evolve, especially with you know the current situation with tariffs and and these tax credits, there's always things that are changing over time.
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So it does make for interesting analysis and research just to try to keep up on it and keep relevant with the changes.
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Well, uh I I find the stuff fascinating, as as I'm sure that you do since you're in the business.
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Um what other studies have you guys got going on besides cars?
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Um well, something that we're we're trying to get a little bit more work in is uh cannabis work.
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So we we just put out a uh were we?
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We're all trying to do our research in the cannabis world too.
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You know, it's it's I I don't think when I was you know in school and growing up I thought that I'd be doing some some cannabis related work.
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I call I call uh there's a there's a penalty flag on the back.
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I was in high school and I didn't think about 15 yards, buddy, half the distance.
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I don't get it.
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Well they stopped the drug test there at Anderson last year, so here we go.
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Uh yeah, it's I mean it's it's very interesting because we um for people that don't know, you know, they might think California and the West Coast states have a lot of cannabis industry and their market's huge.
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Michigan has a very large market in terms of sales.
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We've heard that.
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Yeah, I think that's um and and honestly, what I'm interested in with our state government, they just pass an excise tax on it to try to pay for road funding.
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Um, so I'm I'm personally interested to see how sales will change if you know prices are going up to consumers.
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Because we've been seeing for a long time the sales increasing.
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We're seeing them start to plateau, and and I'm I'm predicting that we'll see them drop a little bit in the near future with smoking and talk and toking and asphalt.
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Yeah, I kind of get that comparison.
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Goodness, they're starting to rebuild the roads in Michigan.
00:17:09.519 --> 00:17:10.640
They were bad when I was up there.
00:17:10.799 --> 00:17:12.079
I lived up there for 22 years.
00:17:12.160 --> 00:17:12.880
I was born up there.
00:17:12.960 --> 00:17:14.640
Yeah, it's an ebb and flow for sure.
00:17:14.720 --> 00:17:16.079
They get good and they get bad.
00:17:16.640 --> 00:17:22.000
Yeah, but wouldn't it be cheaper to make sure everybody has plenty of cannabis that they don't really notice the bad roads?
00:17:22.240 --> 00:17:24.319
That could be a good idea, Mike.
00:17:25.200 --> 00:17:32.880
I'm sure there's some give and take there, but you know, obviously we don't we don't condone the you know driving and and the use of marijuana, so we're gonna kind of keep going.
00:17:34.000 --> 00:17:34.960
Good disclosure there.
00:17:35.359 --> 00:17:36.720
Yeah, yeah, very good.
00:17:36.960 --> 00:17:48.319
Well, uh, I have to tell you that this has been a very enlightening uh conversation with you this morning, and we we we truly appreciate the uh humor and uh good luck.
00:17:48.559 --> 00:17:51.519
So let's see, when will that study be done?
00:17:52.480 --> 00:17:53.359
Uh which study?
00:17:54.160 --> 00:17:54.720
The pot study?
00:17:54.880 --> 00:17:56.079
Yeah, he forgot already.