Per https://insideevs.com/news/586195/tesla-model3-rwd-tco-toyot... 5-year Total Cost of Ownership of Model 3 SR is about the same as Toyota Camry for an average 10k miles / year driver.
And that was probably calculated with the old gas prices.
And if you get the new usage based insurance from Tesla (available in 8 US states) then you might additionally save on insurance (see e.g. https://twitter.com/jd_average/status/1543083099701010434 saving $1.6k for 2 cars compared to Geico).
My car, all the maintenance, the insurance and all the fuel I can put in my car over its entire lifespan even at current fuel prices is cheaper than the lowest entry cost for a Tesla.
My car cost £5k for reference with 20k miles on the clock and does 66mpg.
I can afford a Tesla. I just think it's a waste of money.
The base Model 3 now costs $48,490 whereas the Toyota Camry starts at $25,845. The absolute most expensive Toyota Camry trim is the XSE V6 with a sticker price of $36,270.
Edmunds estimates the 5 year total cost of ownership for that Toyota Camry at... $45,211. The cash cost to own that Camry is $45,211 + $36,270 for a total cash cost of $81,481.
Edmunds doesn't have an estimate for a 2022 Model 3, but their 5 year total cost of ownership for a 2020 Model 3 is... $53,660. $48,490 + $53,660 is $102,150.
This is the most absurd and generous (to Tesla) comparison I could possibly make and the Model 3 is 25% more expensive. It's two year old Model 3 compared to the most expensive Camry you can buy.
If I compare base model to base model it just gets comically out of hand. The 5 year total cash cost for a base model Camry is $25,845 + $31,413 for a total cost of $57,258. The Model 3 is 78% more expensive over five years.
You have to really seriously gamify the numbers to come out ahead on any EV. Things such as absurd vehicle comparisons, extending the length well beyond the length that people actually keep their car, discounting or ignoring deprecation, assuming absurd and unrealistic increases in gas, etc.
Tell me, did they find the same if you buy a ten year old Tesla vs a ten year old Camry? My dad bought a 1992 Miata in 2005 for $2500 and then drove it for fifteen years.
Has anyone even heard of someone buying a used Tesla?
Tell us what did they got wrong. Gas is more expensive than electricity. The more you drive, the more you save. At some point you the amount you save will equal the difference in price.
> Has anyone even heard of someone buying a used Tesla?
Plenty of people buy used Teslas and you can too: https://www.tesla.com/inventory/used/mx?arrangeby=plh&zip=33...
It's hard to buy 10 year old Tesla because their oldest cars are 2012 Model S, then 2015 Model X and then 2017 Model 3 and 2020 Model Y.
But some people do sell them and some people buy them.
As it happens Tesla's retain their value better than most cars which is another factor that helps in Total Cost of Ownership.
This is heavily dependent on where you charge. California has the highest gas prices in the US but gas is still cheaper than charging at a public charging station in California.
[1] https://people.com/human-interest/tesla-owner-blows-up-his-c...
Yes! Only 2 years old though, so not a good data point.
Lots of dumbassery, had to get approval from Telsa or the warranty would be void.
I wouldn’t buy any current Tesla as luxury car. EQS is my favorite or BMW iX as cheaper alternative. Or 2008 Tesla Roadster :-) I know couple very wealthy individuals driving that ancient car as a statement.
Edit: about being too expensive. I doubt it. With current petrol prices in Germany my monthly saving on petrol alone will pay for electric vehicle. I forecast seeing liter for 2,5€ in winter here.
Good grief. I don't care what car company, but if anything should be 100% manual, a simple cable system, it's this.
Computer controlled emergency brake! Insanity!! But sure, manufacturers save a few dollers per car.
Computer goes nuts, can't steer, or accelerator stuck, yeah, sure, same borked code will probably stop the emergency brake from engaging.
This. Is. Insane.
The "ignition key" doesn't do anything nowadays.
Just you wait until the brake pedals or steering wheel get electronic only.
Tesla build quality[1] has nothing in common with luxury. Lucid is trying to fill the "luxury EV" gap.
Certainly in terms of raw price, but a lot of companies in the UK are doing effectively a company car scheme so you pay for the car pre-tax (saving about 20-45% depending on your tax rate). That same saving doesn't apply to ICE vehicles (gets eaten up by benefit in kind tax).
The Hyundai was better, but still everything was capacitive and unintuitive.
The Tesla big screen and UX is also bad, but I certainly wouldn’t put the Kia or Hyundai infotainment on a pedestal as a job well done. I am personally waiting to see what Honda or Toyota release.
A bigger issue (to me) is that EVs are just too expensive. You won’t save money unless you’re comparing an EV to a luxury car. If you’re comparison shopping an EV6 against a CRV you’ll never get the numbers to work. And if you’re in the market for a luxury car would you rather have a Kia or a Tesla??