Although the Tesla Model 3 in both image and features competes with the likes of premium German manufacturers like BMW and Mercedes, its analysis has found that operating costs are significantly lower than those of its direct rivals.
The company noted in its 2020 Impact Report that a Model 3 Standard Range Plus, on average, costs 55 cents per mile to operate when you consider the MSRP, as well as the cost of insurance, maintenance, and fuel. That, it argues, makes the true cost of the vehicle only slightly higher than a Toyota Camry and much lower than a BMW 3-Series after just five years and 60,000 miles (96,500 km).
“Notably, running costs such as fuel (electricity or gasoline), maintenance, tires and repairs for Model 3 should cost just over half of a mass-market ICE vehicle such as a Toyota Camry,” the company writes.
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Tesla uses this as evidence of the Model 3 SR+’s value compared to its competition. Although its MSRP is currently listed at $39,990, which is roughly similar to a BMW 330i Sedan ($41,450), the cost over time shrinks as a result of the Tesla’s lower running costs.
“Our focus from the beginning has been to develop products that are not only sustainable, but also superior to fossil-fuel alternatives in every way,” the company writes. “Many incorrectly believe that choosing sustainable products requires consumers to compromise on price or performance, but Tesla vehicles combine performance, safety, efficiency and competitive prices.”
The company also claims that, although its vehicles are more environmentally costly to produce than ICE vehicles, it becomes greener than a traditional car after just 5,340 miles (8,593 km), even using the current global energy mix.
That’s an impressive and surprising number because others have estimated that it takes much longer for EVs to amortize the environmental debts incurred by the creation of their batteries, but it’s one that Tesla claims is coming from real-world data.
