A new study from Consumer Reports found that Tesla vehicles have lower maintenance and repair costs over a 10-year period compared to cars from any other brand. The average Tesla owner spent just $4,035 over a decade, which equates to an average of $403.50 per year. Electric cars, in general, tend to have lower maintenance costs over time due to having fewer moving parts than traditional internal combustion vehicles. This means that electric vehicles are typically more reliable and require less regular maintenance.
The study ranked Tesla at the top in terms of long-term maintenance and repair costs, followed by Buick and Toyota tied at $4,900 for 10-year costs. Luxury brands occupied the bottom spots on the list, with Land Rover having the highest maintenance bill of $19,250 over a 10-year period. The rankings were determined by analyzing maintenance and repair costs reported by car owners for vehicles from the 2014 through 2023 model years, using the 75th percentile figures to estimate typical costs.
Consumer Reports noted that American brands performed well in the study, with four of the top five brands being American. However, the study only considered maintenance and repair costs and did not include other recurring expenses like fuel and insurance or collision-related repairs, which can be higher for electric vehicles. The study also does not account for inflation, meaning ownership costs are likely to be higher over the next 10 years than indicated in the findings.
Overall, the study suggests that electric vehicles, and Tesla in particular, can be a cost-effective option for long-term ownership due to lower maintenance and repair costs. While the initial upfront cost of purchasing an electric vehicle may be higher than traditional vehicles, the savings on maintenance and repairs over time can make up for this difference. The study highlights the importance of considering long-term ownership costs when purchasing a vehicle and suggests that electric vehicles may be a wise investment for those looking to save money on maintenance.
