Tesla blogger, who goes by X handle @WholeMarsBlog has shared an image of the Tesla Model 3, which appears to be from an unidentified Tesla store which compares the Total Cost of Ownership of the Tesla Model 3 with the Toyota Corolla, Toyota Camry, and BMW 3-series. By the way, earlier this year we already realized that owning a Tesla is cheaper than owning a Toyota.
According to the sign, which you see in the image accompanying this article, Tesla Model 3 has the "lowest cost per mile compared to the Toyota Camry (exclusive look at the 2023 Camry), Corolla (first look at the refreshed 2023 Corolla), and the BMW 3-Series after the $7,500 U.S. federal tax credit."
Tesla's sign says this estimated cost per mile is calculated after five years of ownership or 60,000 miles of driving. I think these are solid numbers. Before considering the numbers, consider the cost of owning a Tesla after 32,000 miles.
So what we see here. Tesla Model 3 RWD's estimated cost per mile after five years of ownership or 60,000 miles of driving is $0.43 per mile. Toyota Corolla's respective cost is $0.49, Camry's cost is $0.51, while BMW 3-Series' cost per mile for the same parameters is $0.93. I have to admit that next to Corolla, Camry, and BMW's numbers there are asterisks, but I can't read them as the fine print is too small for my eyes.
"I think Tesla should highlight this type of info on the Model 3 page on its website so more people become aware. It's great they share this info on social media, in slide decks, and in presentations, but most people will see it on the main product page," notes prominent Tesla blogger Sawyer Merrit on X. Most people don't know about this and I personally think Tesla should advertise these numbers more noticeably. Especially, now that Tesla has decided to allocate some money to advertise its electric vehicles.
People comment on these blogs and say they have seen this sign in all new Tesla showrooms. I think boomer generations need this and love walking into it. Having said this, I also think Tesla and other EV charging costs need better advertisements as well.
Another Tesla Model Y owner highlighted other benefits of owning a Tesla electric vehicle, writing some numbers and posting an image of the brake pad of his Model Y.
My model Y brake pads after 60k. @Tesla should advertise this. My Model Y state inspection costs $7 because of no emission testing. Oil changes $0. Transmission service $0. The list goes on. pic.twitter.com/SQyHBUclWd
— Curtis Biggs (@Cbiggs90) August 14, 2023
One person, named Xau Mastro, however, wrote that "Toyotas might cost slightly more but are also way more reliable!" Do you agree with this view? Would you say Toyota vehicles are generally more reliable than Tesla vehicles? Let us know your thoughts, opinions, or experiences in the comments section below, please.
So, let me wrap up.
Cost of Ownership After 60,000 Miles
- Tesla Model 3 RWD $0.43
- Toyota Corolla $0.49
- Toyota Camry $0.51
- BMW 3-Series $0.93
Having said this, keep in mind the following: not everyone gets the $7,500 Federal EV Tax Credit. So if you don't get this credit, the above numbers will change and somewhat may shift in Toyota's favor. Now all Tesla Model 3 vehicles qualify fo the $7,500 EV Tax Credit.
Armen Hareyan is the founder and the Editor in Chief of Torque News. He founded TorqueNews.com in 2010, which since then has been publishing expert news and analysis about the automotive industry. He can be reached at Torque News Twitter, Facebok, Linkedin and Youtube.