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according to reutersTesla is trying to bring a new compact electric SUV to the market which will be their cheapest ride till date.
Find out below whether Tesla’s new low-cost SUV will be a good choice for retirees.
Also know if owning a Tesla helps you save big bucks.
tesla cheap new ride
Reportedly, this new vehicle will be cheaper than Tesla’s (currently) cheapest vehicle, the Model 3, which starts at $38,630. At 14 feet long, it will be shorter than the Model Y, which is 15.7 feet long. Given its low price-point and small size, it’s possible that this new Tesla model could be a solid investment for frugal buyers like retirees on a fixed income.
What could be its price?
Although full details are not yet available for this vehicle (which is not expected to enter production until 2027), it is possible to use the few details available to compare it to pre-existing models like the 3 and Y and thus get an idea of what this latest Tesla innovation has to offer.
Given that this new vehicle will have a compact size (compared to the Model Y) and a lower price than the Model 3, a target cost of $25,000 to $30,000 is more than likely.
Additionally, when estimating the charging cost, this compact SUV which is slightly smaller than the Model Y will have a slightly cheaper charging cost than the Model Y. That means about $7 to $8 for a full charge at home and about $15 to $25 at public charging stations. Assuming the vehicle will travel 1,000 miles per month, that’s $30 to $45 monthly for charging at home or $70 to $110 monthly for charging in public. Compare this to the estimated cost of filling the gas tank to drive 1,000 miles per month in a vehicle at 30 mph (about $150 monthly).
A suitable investment for retired shoppers?
If Tesla’s unnamed new compact SUV lives up to its rumors, it could actually be a worthy investment for those shopping on a budget, like retirees. Home charging will be exceptionally cheap and public charging will also provide significant savings compared to a gas car.
While it’s all still conjecture at this point, a compact SUV that costs less than $30,000 and requires only $50 in monthly home-charging costs could be an almost ideal retirement commute for your golden years.