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Let's get right to the point: when it comes to the importance of the automotive market – size of the market and growth – there could be little more important than placing a SUV on the market. integral that can travel 39 miles per gallon. on average.
Why? Because what the American consumer – and indeed many people around the world – wants is a rugged SUV, but also fuel efficient.
That's what Toyota (TM) does with the all-new RAV4 Hybrid at $ 28,745 (and up), which will arrive at US dealerships in March 2019. For just $ 800 more than a RAV4 to Equivalent non-hybrid AWD, you get a premium in average fuel economy from 29 to 39 MPG: the all-new 2019 Toyota RAV4 breaks with the created segment.
Mind you, this is not a small eco box. This is a spacious four-wheel drive SUV with which you can tow and get out of the way. How much does your monthly or annual fuel bill cost with this new creation? according to The average price of gasoline in the United States today is $ 2.61 per gallon: nearly 49 million people who discover holiday routes are filling up with gas prices ; Price similar to Last Thanksgiving.
The average person in the United States travels about 1,000 miles a month. Divide 1000 miles by 39 MPG and you get 25.64 gallons. Multiply by $ 2.61 and you get $ 67 a month, or $ 804 a year.
So here you are: drive a spacious 4WD SUV, capable of towing for $ 67 per month or $ 804 per year in fuel. At this point, even if an electric car cost absolutely nothing – that your electricity was somehow free (forget about "solar energy" – I mean the total cost of the equipment included) – you do not you probably would not worry about its fuel cost. $ 67 a month is probably less than what you spend on coffee, cell phone bill or auto insurance. What is your electricity bill at home?
I've been driving this 39 MPG Toyota SUV for about half a day to check out its claims regarding fuel economy. First of all, I drove her very aggressively, covering her almost every time. I had 34 MPG on average for the road. Then I drove it gently – not hypermiliant, but gently – and I got an average of 44 MPG for the same ride.
In other words, 5 MPG below for aggressive driving and 5 MPG above for smooth driving. The average between the two? 39 MPG, just on the money with the odds.
Why is this important for Tesla Model 3 and other electric vehicles?
So what is the significance of this 39 MPG Toyota All-Wheel Drive SUV for $ 28,745 for the prospects of the best-selling electric car on the US market, the Tesla (TSLA) Model 3? Let's go beyond the obvious fact that one is an SUV and the other a sedan, and that some people will say that it's not people who shop windows and gas cars, even hybrids.
Tesla himself claims that the Toyota Prius is the top 3 model conquer car. She said during her second quarter financial results conference call! right here.
"So we looked at what model 3 car buyers in the United States and the cars in which they were trading. What we have found is that this year, from January to July, the first five non-Tesla trade cars are trading. to enter a model 3, they are Toyota Prius … "
Therefore, the notion that it is impossible to compare a Toyota Hybrid to a Tesla is exactly the opposite of what you should do, according to Tesla herself – and apparently, her customers. This is actually the most relevant comparison you can make regarding competition and sales of Tesla.
Of course, Toyota itself lost its Prius sales in favor of its most popular SUV, the RAV4, even before having a 39 MPG: right here. For this reason, it is necessary to increase sales to make the SUV the targeted comparison vehicle – not the Prius.
With that in mind, let's see what it costs to power a Tesla. Let's start with the Tesla superchargers. Not everyone charges his Tesla to the Supercharger, but some do – and as sales go from those who live in houses to those who live in buildings, perhaps a growing percentage of buyers Tesla over time, in particular The price of Model 3 continues to decline to attract more disadvantaged individuals.
The price of gasoline from a Tesla Supercharger differs from one state to the other. Let's start with California, where most sales of Tesla are sold: Supercharging, that's $ 0.26 per kWh.
How many kWh does a Tesla Model 3 consume to cover those 1,000 miles per month? According to the US government, the Tesla Model 3 consumes 26 kWh per 100 miles: 2018 Tesla Model 3 Long Range In other words, 260 kWh for these 1,000 monthly miles. Multiply $ 260 by $ 0.26 per kWh and you are at $ 67.60.
Where did we see this issue of $ 67 before? Oh, that's right: Earlier in this article, we concluded that at the average price of gasoline nationwide, the Toyota RAV4 AWD SUV also costs $ 67 a month .
Some of you may stop reading here. If you pay the same per kilometer, or per month, per year, in AWD SUVs as in a Tesla Model 3, what is the point of not wanting to switch to electricity? For all, with the exception of EV enthusiasts, this kind of proposition is a "finished game" for most normal Americans.
$ 67 a month by car – Toyota 4×4 or Tesla Model 3 – it's just $ 2 a day. How much did you pay for coffee today? How much did you pay to park? To whiten this shirt? This is not just a material expense for someone who buys ANY new car, at any price.
What Toyota has done here is to reduce the fuel costs of the table for anyone who can afford a full-wheel drive SUV of $ 28,745 (before dealer discounts). It's the same fuel cost as the Tesla Model 3, and it's an insignificant number in all things.
For nitpickers, I already hear two of your objections:
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Do not use the price of American gasoline. Use the price of gasoline in California, which is higher. Yes, that's it. And you can do it if you want to selectively choose the highest in the country. But I'm talking about the average of the 50 American states as a whole.
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Do not use the Supercharger price for electricity. Use the home load rate, which may be lower for some people. That's maybe half or less than the $ 0.26 for some people. This varies widely between homes and utility providers. For example, if you live in a big house (some Tesla owners, of course), you risk getting fired at a higher cost level. Still, other people claim to have solar panels that generate low electricity prices.
But here's the problem: if you're charging at home, you should also include the cost of the domestic charging station and its installation cost. In some cases, this may be less than $ 1,000. In some cases, much more. It's been over a year of fuel in the Toyota SUV! ($ 804, remember?)
And if you buy solar panels, you must also include this cost. Not just "free electricity". If you pay in cash for your house, you do not suddenly live free in the house.
Therefore, yes, it is possible to skew these numbers in favor of Tesla assuming that the owner of Tesla has cheaper (or free) electricity – and that the Toyota SUV driver pays more for gasoline because lives in a place where it costs more than the average, as opposed to a price lower or equal to the average price of gasoline in the United States.
In the end, most Americans may be content to look at this breakthrough in Toyota fuel economy and say, "At 39 MPG, which is $ 67 a month or $ 804 a year." I will take the four-wheel drive SUV for $ 28,745. "
It should be added that the model Tesla, model 3, which is not an SUV, starts at $ 53,000, according to the Tesla website: Model 3 – Tesla. So yes, the Toyota SUV is also a lot cheaper.
Conclusion: this 39 MPG Toyota SUV is a revolution
I can give you a lot of details about the various other details regarding the 2019 Toyota RAV4 Hybrid All Wheel Drive SUV, but that will be another article because they are all below the average of 39 MPG in this highly desirable SUV. It reduces the fuel cost of the table and compares it to the Tesla Model 3 (non-SUV) at $ 67 per month per 1,000 miles driven – at a much lower purchase price.
Disclosure: I am / we are short TSLA.
I have written this article myself and it expresses my own opinions. I do not receive compensation for this (other than Seeking Alpha). I do not have any business relationship with a company whose actions are mentioned in this article.
Additional disclosure: At the time of submitting this article for publication, the author was short TSLA. However, positions can change at any time. The author regularly attends press conferences, the launch of new vehicles and equivalent courses, organized by most major car manufacturers. Toyota has organized a product launch event.
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