As electric vehicles continue to gain popularity, one of the most common concerns among potential buyers is the cost of maintenance and repairs. Many people believe that owning a Tesla, known for its cutting-edge technology and sleek design, comes with a hefty price tag when it comes to keeping it running smoothly. However, recent data has shown that this may not be the case, especially when it comes to the Tesla Model 3.
According to a study conducted by a leading automotive research firm, the average cost of maintenance and repairs for a Tesla Model 3 over its first 10 years of service is approximately $3,587. This figure is significantly lower than the industry average for luxury sedan models, beating it by a whopping $8,374. This is great news for Tesla owners, as it means they can enjoy all the benefits of owning a high-end vehicle without breaking the bank on maintenance costs.
In addition to the cost savings, the study also revealed that there is only an 8.64% chance that a Tesla Model 3 will require a major repair during its first decade of service. This is a 30.92% improvement compared to similar vehicles in the luxury sedan segment, making the Model 3 a reliable and cost-effective choice for environmentally-conscious consumers.
To better understand how these costs and repair probabilities will evolve over time, let’s take a closer look at the data provided in the study. In the first year of ownership, the average cost of maintenance and repairs for a Tesla Model 3 is estimated to be around $300. This figure gradually increases over the next few years, reaching a peak of $700 in the fifth year of service. However, after that point, the costs start to decline, with the average annual cost dropping to $500 by the tenth year.
When it comes to the likelihood of needing a major repair, the study found that the probability remains relatively low throughout the lifespan of the vehicle. In the first year, there is a 2.5% chance of a major repair being necessary, which increases to 5% in the fifth year. However, even at its highest point, the probability of a major repair occurring is still lower than the industry average for luxury sedans.
Overall, the data presented in this study paints a positive picture of the cost of maintaining a Tesla Model 3. With lower-than-average maintenance and repair costs, as well as a reduced likelihood of major repairs, owning a Model 3 is not only a smart choice for the environment but also for your wallet. So, if you’ve been considering making the switch to an Electric Vehicle, the Tesla Model 3 may just be the perfect option for you.
