Investors need only review Tesla's recent results for evidence that the stock is a buy. Maybe people in the market for such a vehicle just aren't interested in a "base" model. A Hyundai Kona, for example, has a base price of $21,990, while a Hyundai Kona EV is priced from $34,000. Electric Vehicle Charging Taking Place on Public Roads. There won't be a need for an app or an unreliable credit card reader. However, the average repair cost among all vehicle brands is lower than $652 yearly. There are many ways to install an electric vehicle charging station (EVSE in electric-car lingo) in your home. However, the older versions come with as low as 60kWh batteries. That's especially true in rural areas and states where there is an anti-EV political climate. * Final Price With Tax Credit: $46,490 Learn more. Buying an electric car and installing a home charging station lets you skip the gas station and its dirty fuel nozzles. Coolant Colors: Is It Safe To Mix Any Coolant Color For Your Engine? Comparable vehicles are: BMW 3 Series Sedan, which has a starting MSRP of $43,800. Next is the Model Y performance, which has a price of $56,990 after the IRA tax credit. Here's why: It can take between 15 and 45 minutes to get a decent amount of range from a DC fast-charging station. Discuss Tesla's Model S, Model 3, Model X, Model Y, Cybertruck, Roadster and More. On the other hand, if you have a Tesla Model 3, you can charge it in full for $10.94. There's a gas station at almost every interchange, so you don't have to spend much effort determining fueling intervals. 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Maybe one that still has USS, the functions of which have yet to be replicated in software? If your state has a small tax credit for Tesla, buying a Tesla is for sure worth it. Because they're some of the newest models on the road, today's EVs are loaded with the latest safety, infotainment, driver=assistance and connectivity technology. Model Y vehicles are also very roomy and spacious allowing you to transport your dog or supplies. The price of this after the tax credit is $36,490. That's changing, but you still need to be aware of your surroundings when you're charging. I'm not sure if the Model 3 refresh is actually going to be a good thing or not, and the removal of the parking sensors just seems bizarre to me. The number of electric cars, trucks and SUVs you can buy will boom in 2023. With the recent passage of the Inflation Reduction Act, the formerly generous Federal Electric Car Tax Credit program was gutted for the remainder of 2022. The price of this after the tax credit is $45,490. The first thing to consider is how you use your Tesla. The Model Y Performance is an unreal vehicle. The Tesla Model Y long range is $52,990 as a base price and if you buy it before March 2023, the price becomes $45,490. The content of this field is kept private and will not be shown publicly. Tesla stock ended the year on a five-month losing skid, giving back about 67.5% from the August high to the early January low and bottoming just above $100. Free cash flow also soared, rising 51% . Many PHEVs, including the Kia Sorento Hybrid, qualify for the Federal Electric Car Tax Credit. So, is it just a minor pullback for the Adani stocks or can Dalal Street finally see some light at the end of the tunnel? Research has found that this method of analyzing companies is much more predictive than looking at earnings per share or EBITDA. It simply can't match the range of an F-150 Hybrid or any heavy-duty diesel pickup truck. As for Tesla, its exemplary benefits outshine its fewer drawbacks. Moreover, Tesla keeps raising the price, though it says demand is still through the roof. If the preferred location for your EVSE is a long way from your electrical panel, the cost to run wiring can get expensive. Tesla shares continued sliding Thursday morning, a movement that began the prior day during Tesla's Investor Day event, which provided investors with a long-term vision but . Using the system in ways to the contrary can have deadly consequences. Some states now offer point-of-purchase credits, so you can instantly get the credit and apply it to the vehicle purchase. What kind of charging speed can I get?" The longer you spend connected to the charger, the more expensive it will be. Like some gas stations, some early fast-charging stations weren't built in safe areas. If you dont share his confidence, then proceed with caution. The down payment on a Tesla depends on the model you choose and the financing options you qualify for. I have been waiting as well. Electric Vehicle News, Reviews and Analysis, Big Changes Coming to the Model 3, and Other Tesla Vehicles, In 2023, Tesla Sweeps The Manufacturer and Make Loyalty Category, Winning 5 Awards in Total, Tesla's Berlin Factory Expands Operations Getting Really Close To Phase 1 Target, Tesla Secrets Revealed from Sandy Munro Rant, Tesla China Produces Record 74k Vehicles In February Despite Model 3 Production Shutdown, Tesla's Innovative Electric Cars: Breakthroughs In Manufacturing And Cost-Savings, Tesla Will Build a Model 2, Then a Model 1: Each Half the Cost Of the Prior Model. In fact, from the date of the stock split announcement in early August through the end of 2020 -- a period of about five months -- Tesla shares gained nearly 157% overall. Heres what you need to know. Tesla occasionally offers discounts and incentives on their vehicles, so its worth checking back often to see if there are any deals available. The Tesla Model 3 RWD with LFP batteries is $43,990 if you buy it before March 2023. If you have a home charging station, charge overnight and take advantage of your utility's cheaper time-of-use rates, you can potentially save a significant amount of money by driving an electric car. As with Amazon, Fortunes analysis of Tesla begins with the companys EVA of $9.1 billion last year. * Final Price With Tax Credit: $42,490 FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices Exploring Wheel World: How Many Wheels Exist on Earth? The lack of robust, overlapping networks of DC fast-charging stations can leave EV drivers with few options if one charging point is out of service. May 02, 2022 at 10:47am ET. Here's what we recommend. The packs feature sophisticated thermal management systems to keep them operating at efficient temperatures. * 0 to 60 mph: 4.2 seconds JavaScript is disabled. But the 3 may see some significant updates in April. I was the Tesla Model 3. The cost of charging Tesla models solely depends upon the type of charger, cost of electricity in your area, and type of car. Tesla not only gives luxurious vibes but can also save a lot on fuel expenses. That way, even if you have to park on the street, you still have a charging option. A 2022 study by the University of California, Berkeley, studied DC fast chargers in the San Francisco Bay area. In any case, assuming that youre making a monthly installment of $703 for another Tesla Model 3, that is $8,436 yearly and numerous different vehicles will cost you less. * Battery: Lithium-ion, which degrades faster and shouldn't charge to 100% regularly When cars get better gas mileage or don't use gas at all they don't provide any gas tax revenue. For every 100 miles of range your EV has in normal weather, you'll only be able to drive 59 miles when the temperature plummets. With the maintenance cost of an EV and fuel cost being so much less, it's tough to see how someone could buy a comparable gas car in that range. That can make you vulnerable in sketchy areas or late at night. Danny Vena owns Tesla. Other than used EVs, for example, there's no electric car that can match the price of a Kia Forte or Nissan Versa. The car and the charging station communicate with each other, and you're billed by the appropriate charging network. But he loves to help people the most. Plenty of people now shopping used Teslas and you should be able to get more than $20k for yours. Not! It's one of only two EVs on the market today to offer a third row of seats, unless you count the Chrysler Pacifica Hybrid, which is a solid option. Electric motors produce their peak power the moment you step on the accelerator. Any additional price cuts appear to correlate directly to your trade-in value. Wait till Jan 2023. All rights reserved. How do go about buying it? But the company has real strengths and cheap shares. Perhaps today might not be the best time to buy Tesla stock or sell it, considering shares have room to drop at better discounts. Im in the same boat as you. Leave your comments below, share the article with friends and tweet it out to your followers. According to Tesla users, the average cost remains between $300 to $500 per year. On the other hand, if youre looking for a more traditional vehicle, then a Tesla might not be worth the investment. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Cabin view of the 2023 Tesla Model S . Until you sign on the dotted line and pass your $ over you're not obligated to anything. You can take advantage of your local utility's time-of-use rates and charge your electric car when rates are their lowest. There might even be more price cuts after March. Wow, that's tough. Sign up here. That has been the reality for Tesla Supercharger users for years. The long-delayed Nissan Ariya is set to arrive by 2023, as is the Rivian R1S SUV. During the day, the stock fluctuated 3.67%, ranging from $203.75 to $211.23. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Theyre zippy; theyre fast. If the stock were to move above those levels, the door opens to the 61.8% retracement near $233. Tesla offers several financing options for qualified buyers, including leases and loans. Tesla Cybertruck will benefit from 1 MW charging speeds. Some were located behind strip malls, for example, where there was easy access to power. Teslas are not cheap cars, so if youre on a tight budget, it may be better to wait until you can afford the car you really want. Hybrids, Plug-In Hybrids and Electrics: What's the Difference? The first thing to think about is your budget. The result is what financial economists call economic profit, also known as economic value added (EVA). A similarly sized 2021 Audi Q5 gasoline-powered luxury compact SUV getting 28 mpg on the highway would have covered that distance with just over 2 gallons of gas, costing around half the price of the charge. Our current fair value estimate for Tesla's stock is $600 per share. Matt has been a car fanatic since he was young hence why his favorite video game series is Gran Turismo. If you're in the camp "I'll wait till the update to get the newest and best" well you'll be waiting for a long, long, long time. Lectron J1772 to Tesla Charging Adapter, 60A & 250V AC https://bit.ly/3swKvEr Buy from Amazon: https://www.amazon.com/dp/B08HGQK323?maas=maas_adg . While the new Ford F-150 Lightning is a capable towing vehicle, it's not really designed to haul a heavy load over long distances.