We are all aware of the benefits of owning an electric car. But what about the higher initial prices? On top of that, if you’re considering buying a Tesla, get ready to pay even more. Why is that? And how much does a Tesla cost? Is it really worth buying a Tesla?
Let’s find out in this article!
What is the Average Buying Price of a Tesla?
The average cost of buying a Tesla comes to $73,480 across all variants of all four models. This puts Tesla well ahead of the industrial average for buying an electric car which is $61,488.
However, there is a big difference between the prices of the cheapest and most expensive Tesla models. The rear-wheel drive variant of the Model 3 is the cheapest Tesla you can buy. It has a starting price of $44,630. On the other hand, the most expensive model of Tesla is the Model X Plaid. It can be bought for an initial price of $101,380.
So, you can see that there is a huge difference between the prices of entry-level and high-end models of Tesla. This indicates that the company is trying to cater to all segments of the market. Whether it be a frugal buyer or a wealthy customer, they will find a Tesla in their budget.
The thing that I love the most about Teslas is that they don’t compromise on the basic features based on the pricing. Even the most expensive Tesla uses similar safety tech as a cheap Tesla model. Moreover, the range and battery tech are what matter the most.
Tesla has managed to provide long-range and fast-charging features even at a lower price. For example, the Tesla Model 3 can go up to 350 miles on a single charge and is laced with fast charging capability. At the same time, the most expensive Tesla Model X plaid can go approximately 400 miles on a single charge. This isn’t much of a difference if you ask me.
Does Tesla Cost More Than Other Electric Cars?
Yes, Tesla costs 20-30% more in comparison to other electric cars on the market. If you’re not a Tesla fan, then you can choose among plenty of other options available on the market. Some other great EVs are Hyundai Ioniq 6, Mustang Mach-E, Kia EV6, and Rivian R1S.
The best alternative to Tesla, in my opinion, is the Hyundai Ioniq 6. Based on the all-new E-GMP platform of Hyundai, Ioniq 6 is capable of going as far as 360 miles on a single charge. This isn’t even the best part. You can buy Hyundai Ioniq 6 at a starting price of $42,715. This means it is cheaper than the most affordable Tesla, yet it has an amazing range and battery tech.
If you’re into large-sized SUVs and truly want a 7-seater car, then look no further than Rivian R1S. Rivian is an emerging player in the EV sector. It has made a grand entry into the EV scene with two of its models. One is the large-sized SUV, the R1S, and the other one is an off-road capable truck, R1T. R1S is mighty powerful and can go up to 320 miles on a single charge.
So, yes, Tesla is expensive compared to other electric vehicles on the market. But is the higher price tag justified? We’ll look at it in the next section, where we will discuss why Teslas are more expensive as compared to other EVs.
Why Are Teslas So Expensive?
We have established the fact that Teslas are expensive to buy. But why are people still buying Teslas? Let’s explore the four major reasons why Tesla is so expensive and the facts that justify the higher price tag of Tesla models.
1. Tesla Charging Network
The biggest problem that comes with owning an electric car is finding a charger. It is true that you can charge your car at any socket, but it would take somewhere between 30-40 hours to fully charge your EV at a level-I charging station.
Tesla has solved the issue with its growing network of Tesla superchargers. The Tesla superchargers are capable of delivering 250 kW of DC power to your car as opposed to the 3-7 kW at a regular home socket. This means that you would be able to rejuice your batteries in less than 30 minutes at a Tesla supercharger.
Currently, there are over 40,000 Tesla superchargers all over the globe. With these superchargers, Tesla is solving the global problem of providing a quality EV charging infrastructure. Tesla owners can charge their cars on a supercharger at a much lower price in comparison to other level-III chargers, along with many other exclusive benefits.
Planning a road trip in your Tesla? Make sure you know how long it takes to charge your vehicle with this comprehensive guide to Tesla charging times.
2. Long Range at Cheaper Price
Tesla has not compromised on the range of its vehicles even if they have reduced the prices. The biggest attraction of an electric car is its long range. So, Tesla has ensured that its buyers don’t have to look the other way just because they were not able to find an affordable electric car with a decent range. You’ve got options there.
Charging a Tesla is more affordable than you might think. Find out how much it costs to charge a Tesla and how to save money on charging with this guide.
3. Safety Like None Else
Tesla cars are the safest vehicles on the market. Whether it be chassis design or occupant safety during a crash, Tesla has it all figured out. The National Highway Traffic Safety Administration (NHTSA) has awarded a 5-star rating to all the Tesla models.
The Model X and Model S received an all-out 5-star rating. This means that not only these cars received an overall 5-star safety rating, but they also managed to score full marks in every category of the safety test. You can drive a Tesla with confidence without fearing for the lives of your loved ones. That’s what matters the most.
4. Tesla Autopilot
Although Tesla autopilot is not the only advanced driver assistance system (ADAS) on the market, Tesla was the pioneer in introducing ADAS in electric cars. It is a major attraction for many buyers. Tesla autopilot brings convenience to your rides while making them safer.
5. Tesla the Brand
The brand Tesla is worth something. Electric cars have been around for more than a hundred years, but they weren’t a common thing until Tesla exploded and conquered the EV markets. For years it was the sole player in the EV segment, and the term electric cars couldn’t be separated from Tesla. The pricing of Tesla also factors in the brand value of owning a Tesla.
How Much Does Each Tesla Model Cost?
Now that we have covered almost everything related to how much a Tesla costs, let’s have a look at the pricing of each model. In this section, we’re going to look at the prices of each Tesla Model and its variants.
Tesla Model S is a premium offering by the company. It comes in two different variants, the regular Model S and the Model S Plaid. The basic Model S is offered at a price of $91,380. However, the top-of-the-line variant S Plaid comes with a price tag of $111,380. Both models come with a similar battery pack. The only difference is the motor power. S Plaid is laced with three motors instead of two, producing over 1,000 hp.
Next up is the most expensive Tesla Model X. Again, it is offered in two different variants. The base variant has a price of $101,380 and can go up to 350 miles on a single charge. The Model X Plaid is more performance-oriented. It has a price of $111,380 and can go 330 miles on a single charge. The difference between the two variants is the number of motors and peak output power.
Model 3 is the cheapest model of Tesla. It comes in three different variants, rear-wheel drive, long-range, and performance. The base rear-wheel-drive trim of the Tesla Model 3 is available at the price of $44,630. The long-range variant can be bought for $53,130. The performance trim is the most expensive of all, with a price tag of $55,630.
Model Y is another affordable option if you’re looking to buy a Tesla. It is offered in three different trim options. The base Model Y, long-range, and performance. The base variant has a price of $52,630, the long-range trim comes at $54,630, and the performance variant is priced at $58,630.
Final Word, How Much Does a Tesla Cost?
It costs 20-30% more to buy a Tesla. If you’re a Tesla lover, then there’s no one stopping you from buying. But even if you’re a rational buyer who weighs the pros and cons of each vehicle before buying it, Tesla might not be such a bad option. There are many differentiators in Tesla vehicles.
They are laced with advanced ADAS systems and have a longer range than most EVs on the market. Plus, the fact that Tesla caters to the more conservative buyers, as well as the lavish ones, is amazing. Although the average cost of buying a Tesla is over $70,000, you can consider the Model 3, which costs only $44,630 that too, with a decent range and amazing fast-charging tech.
This is my take on how much does a Tesla cost. What are your thoughts on the matter? Do let us know in the comments below. We would love to hear from you guys.