Yesterday, a report by Seeking Alpha was revealed, telling us point blank that it costs more to run a Tesla Model 3 than an equivalent hybrid/gasoline vehicle. While most of us take it for granted that running electric cars is cheap, there clearly is some debate over the matter. According to the report – taking into account a comparison between Tesla Model 3 and the three leading hybrid cars of the calendar year 2018 from Toyota, Honda and Hyundai – Tesla Model 3 is actually more expensive to run than an equally (or less) priced hybrid vehicle.
At the current typical Supercharger price of $0.24 per kWh, running a Tesla Model 3 will set you back $0.06 per mile. At the current gasoline price of $2.65, the 50+ MPG hybrids are $0.05 per mile. While the difference is not that big (or pretty much nonexistent), the numbers are there, showing us that it’s not all black and white with electric vehicles overall.
Additionally, the Tesla Model 3 also costs twice as much as most hybrids of the same size class, and you have to assign an approximate $1,000 per year to battery depreciation, alone more than driving on gasoline for a year. As the report shows us, it’s really not that simple – how the media and owners put it – to run a Model 3 (or any other electric vehicle).
On the other hand, there are naturally, a lot of advantages running an electric car.
First, there is the ecological aspect of running a purely electric vehicle. Electric vehicles don’t add to the emission levels in bigger cities. They don’t add to the smog creation factor and generally, they produce less pollution in every imaginable aspect. While the added cost and additional charging pricing are obvious, running electric cars can actually be cheaper for some owners. Some Tesla Model 3 owners will have a cheaper motoring life. Mostly thanks to the option of charging their cars at free chargers at public parking lots (eg. shopping malls), company chargers and other, almost completely free power sources.
We do love the Model 3, but we also like to keep things level headed. Prices of electricity, combined with the added cost of actually purchasing the Model 3, the battery amortization and other, less clearly visible costs, may impact the decision to buy this vehicle. However, the range of the Model 3, its price tag, and other, meaningful aspects of the Model 3, all make it a great purchase for anyone that wants a fully electric vehicle.
In conclusion, there won’t ever be exactly the same ownership experience for the Model 3. If you’ve got a cheap (or even free) power source available near your home, or at your job, getting a Model 3 makes all the sense in the world. For others, the report clearly points out that it’s not all that simple. If you’re still debating whether to order this amazing vehicle, grab a look at the review of the Model 3 by Engadget right below.
Source: Seeking Alpha