This paper applies GREET model and WTW system to compare their energy consumption and pollution emission in a form of currency between the traditional petroleum and new energy vehicles (battery electrical, hybrid and fuel cell vehicles) during their entire life circles. On energy consumption, new energy vehicles save energy under similar energy structure and technical parameters. BEV is on the top in energy consumption with a decrease by 42% with the traditional petroleum vehicles. New energy vehicles chiefly contribute to carbon emission reduction, falling by 5.78% on hybrid, 32.86 on feul cell, and 21.54% on BEV compared to traditional, but with an increase by 35.36% on acid rain pollution emission. From the total costs, new energy vehicles are lower than the traditional except the BEV. Developing new energy vehicles, especially the BEV, is somewhat of more advantages than disadvantages, which may be improved as China's energy structure alters. 