The Tesla Model Y is widely regarded as one of the world's most popular electric vehicles, but the real cost of ownership often exceeds expectations. Experts have calculated the true expense per kilometer of driving.

On average, the Model Y consumes about 250 watt-hours of energy per kilometer. With the average U.S. electricity price around $0.17 per kilowatt-hour, the energy cost is roughly 4 to 5 cents per mile. Charging at home could result in annual electricity expenses of approximately $540 to $580.

However, using Tesla's proprietary Supercharger stations significantly increases costs. Rates around $0.40 per kilowatt-hour push the price per mile to about 10 cents, which is comparable to the fuel expenses of efficient gasoline-powered cars.

Charging an electric vehicle
A. Krivonosov

Depreciation emerges as the primary cost factor. Analysts estimate that over five years, the Tesla Model Y could lose about 58% of its value. For a vehicle priced around $45,000, this translates to roughly $26,000, adding approximately 39 cents to the cost of each mile driven.

Maintenance for an electric vehicle is cheaper than for internal combustion engine cars, since there are no oil changes or complex transmission work required. However, owners often need to replace tires more frequently due to the vehicle's substantial weight and the high torque of its electric motors.

When factoring in insurance, maintenance, tires, and depreciation, the total cost of owning a Tesla Model Y can reach about 75 to 80 cents per mile. This is comparable to operating gasoline-powered crossovers in a similar class, especially when considering high insurance costs and the vehicle's depreciation on the used market.