If you regularly read InsideEVs, you're probably aware that we've been following Ryan Shaw's Tesla Model Y ownership since the beginning. He was one of the first people to take delivery of the Tesla electric crossover a year ago in March. Thankfully, he's been keeping track of his expense religiously. So, exactly how much does it cost to own a Model Y for one full year?
EVs like the Tesla Model Y aren't cheap. In fact, aside from people's fears related to range and charging, the high upfront cost of electric cars is one of the biggest obstacles to EV adoption. However, in many cases, you can save plenty of money over a gas car, especially if you charge at home.
Electric car cost of ownership data is very compelling. However, we still have to spread the word and get people to understand long-term ownership costs versus upfront pricing. Ryan Shaw goes through each financial detail to paint a picture for us. While he does prove that having an electric car will save you money over a gas car in many instances, there are also circumstances that he encountered that ended up really costing him.
In the end, Shaw makes it clear that there are certainly savings to be had by switching to an EV. However, he also says that a crossover like the Model Y is expensive, and compared to a similarly equipped gas car, you're probably not going to see an overall savings over a short period of time. Perhaps that will change over time, and it's different for each person. Over the longer term, for example, owning an EV for five years, you may start to really see the savings add up.
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