Published on April 13, 2019 |
by Zachary Shahan
April 13, 2019 by Zachary Shahan
The Tesla Model 3 Standard Range Plus has just been available to order in Europe. It's not a 35,000 € car or 37,000 € – because of taxes, import duties, and so on. Even if, at a basic price of € 44,500, the car is competitive – very competitive.
Using a few hypotheses that I will enumerate in a moment, I found that it would probably be very easy to save € 10,000 over a period of 4 years by choosing the Tesla Model 3 instead of the BMW 3 Series.
This may seem shocking in itself, but it should be even more shocking for anyone who has driven both a Tesla Model 3 and a BMW 3 Series. Unless you are particularly fond of knobs, rolling sounds, engine vibrations and At the BMW badge, it is clear that the Tesla Model 3 is a superior vehicle – by far. It's safer and faster (5.3 seconds vs. 7.1 seconds at 60 mph, but in reality feels much faster because of the instantaneous torque), smoother, has much better infotainment tech, has a far better semi-autonomous driving technology, and has more load space. And if the badge is important to you, it's a Tesla.
Who would spend more than € 10,000 for a car much worse?
Of course, the details vary from one driver to the other. Some may travel 11,000 km per year, another 20,000 km and 3,000 km per year. This is an important metric in the equation. In addition, some may consider three years of ownership, others, ten years. Again, this is an important factor when considering potential savings. There is also the issue of "fuel" – gas and gas prices fluctuate dramatically, and some Tesla Model 3 owners may pay retail electricity prices on the grid, while others may basically have free excess electricity from solar panels. Let's jump in my hypotheses.
According to the simple research that I have done, the base price of a BMW 3 Series in Germany is 40 450 euros. There is a subsidy of 4,000 euros per electric vehicle that brings the base price of Model 3 to 40,500 euros, the average price of gasoline (gasoline) in Germany is 5,30 € per gallon, the price average electricity is € 0.30 per kWh and a decent estimate of the annual mileage traveled is 11,265 km. I do not really know how the insurance costs of the Tesla Model 3 compare to those of the BMW 3 Series, but I guess they are similar. Nobody knows what the maintenance costs will be for these two vehicles, so I guess they are, even though electric vehicles should have a lot less maintenance and lower maintenance costs.
The depreciation, or resale value when you're done with the car, is the biggest joker that is not included at all here. Again, we have no solid idea of that. Kelley Blue Book – the benchmark in the United States – places Model 3 first overall, and certainly better than the BMW 3 Series. More recently, Tesla CEO Elon Musk has postulated that cars of model 3 might actually appreciate value. Again, I presume these two vehicles have the same treatment, although it is clear that model 3 will do much better. Below some tables with more details
|Model||Tesla Model 3||BMW 3 Series|
|Purchase price||€ 44,500||40 450 €|
|Incentives||– € 4,000||0 €|
|Price after incentives||40 500 €||40 450 €|
|Gas price||$ 5.30|
|Average price of electricity for the car||€ 0.30|
|Average miles per year||7,000||7,000|
|Total cost of the car after the year …||Tesla Model 3||BMW 3 Series||… Savings|
|1||$ 40,614||€ 43,100||€ 2,486|
|2||$ 40,728||$ 45,750||€ 5,022|
|3||$ 40,842||€ 48,400||$ 7,558|
|4||$ 40,957||$ 51,050||€ 10,093|
|5||$ 41,071||€ 53,700||€ 12,629|
|6||$ 41,185||56 350 €||$ 15,165|
|7||$ 41,299||59 000 €||$ 17,701|
|8||$ 41,413||€ 61,650||$ 20,237|
|9||$ 41,527||€ 64,300||$ 22,773|
|ten||$ 41,641||€ 66,950||$ 25,309|
If you wish, you can manipulate various assumptions yourself in this Google form.
My conclusion is simple: you have to be totally crazy, misinformed or misinformed to buy a basic BMW 3 Series instead of a basic Tesla Model 3 – and the scenario remains the same when you step up in their options. Plate and features.
Interested in buying a Tesla? Need a reference code to get 1,000 miles of free overfeed? Use our: http://ts.la/tomasz7234 (or not – it's up to you).
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