Summary
- Tesla Model 3 and Model Y are the most affordable cars to run in the U.S.
- Study considered the running costs of 50 best-selling vehicles from 2022 to 2024.
- Average annual cost to run a car in the U.S. is $6,462 with fuel costs being the largest expense.
- Tesla Model 3 annual running cost is $5,061 with lowest energy and maintenance costs.
- Other affordable options include Hyundai Elantra, the second most affordable car to run in the U.S.
Article
According to a study conducted by Self Financial, the Tesla Model 3 sedan has been determined to be the most affordable car to run in the United States. The study also found that the best-selling Model Y crossover from Tesla also made it to the list. This is particularly impressive considering that both the Model 3 and Model Y are premium-priced vehicles.
For the study, Self Financial analyzed the running costs of the 50 best-selling vehicles from 2022 to 2024 to determine the average cost of running a car in the United States. The study took into account factors such as fuel or energy costs, maintenance expenses, insurance premiums, and fees and taxes. On average, it costs $6,462 per year to run one of the best-selling vehicles in the United States, with fuel costs being the largest expense at 34.8% of all annual running costs.
The study revealed that the Tesla Model 3 is the most affordable car to run in the United States, with an annual running cost of $5,061. The Model 3 had the lowest annual energy costs at $636 per year, which is 71.68% lower than the study average. Additionally, the annual maintenance costs of the Model 3 were the lowest among all the vehicles analyzed in the study at just $1,143. However, the Model 3 was the 3rd most expensive car to insure at $2,241 per year and had higher annual fees and taxes at $1,041. The Tesla Model Y was ranked as the 7th most affordable car to run in the study.
Other findings from Self Financial’s study show that most of the vehicles analyzed were more affordable to run than the Model 3 and Model Y. For example, the Hyundai Elantra was ranked as the second most affordable car to run in the United States, with an annual fuel cost of $1,615, maintenance cost of $1,435, insurance cost of $1,547, and fees and taxes of $508.
Overall, Tesla’s two mainstream vehicles, the Model 3 and Model Y, were found to have low running and maintenance costs compared to other vehicles in the study. The results highlight the efficiency and affordability of Tesla’s electric vehicles compared to traditional gasoline-powered cars. For more news tips or information, readers can contact simon@teslarati.com.
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