In the spring of this year in 2020, Tesla started delivering the first Model wise beginning with the performance Model, and that performance Model cost around $61,000, but is it really worth the $61,000 cost?
As we dive into the details to see if the Model Y is worth that $61,000, I did want to take a moment to compare the Model Y to other SUVs in its class, both electric and gas, and see how the price range falls within these vehicles.
EV Price Range
If you look at this chart, you can see there that among these vehicles that I’ve chosen, the Audi E-Tron is the most expensive at around $77,000 dollars, and the Model Y is third to last on the list coming in at $61,000.
|Audi E-Tron Premium +||$77k|
|AMG Mercedes GLC 63||$74k|
|Volvo XC 60 T8 Polestar PHEV||$70K|
|Jaguar I-Pace EV400S||$70k|
|Lincoln Nautilus Reserve AWD||$63k|
|Cadillac XT5 Sport||$62k|
|Tesla Model Y Performance||$61k|
|BMW X3 m40i||$56k|
|Lexus RX 450h F Sport||$51k|
These specific SUVs were chosen as a good comparison because they have similar specs and similar features. So, all in all, the Tesla Model Y, as compared to other luxury SUVs, is priced very well.
One of the first reasons why I believe the Model Y performance is worth $61,000 is because of the over-the-air software updates which Tesla sends to their vehicles every so often.
With these over-the-air software updates when you purchase a Tesla, you don’t have to worry about it being obsolete within a few months because you didn’t get the newest features.
Currently, Tesla stands alone with this over-the-air software update ability, and they’re the only brand right now that gets better and better with age.
Another reason why the Tesla Model Y performance is worth $61,000 is because of the superior technology built into the vehicle.
If you’ve ever had a chance to drive or sit in a Model 3 or a Model Y, one of the first things you’ll notice is how clean and minimalistic the interior is.
The center screen controls everything, but it has an excellent responsive user interface that’s intuitive and easy to use.
There are many other luxury vehicles on the market that have screens inside their vehicles, including large screens.
Still, the user interface of these vehicles is nowhere near as easy-to-use and as clean and as attractive as a Tesla screen.
Beyond the user interface, what you see when you drive the vehicle, the technology behind all that user interface is more impressive.
According to an article from Inside EV’s they quoted the London-based publication The Economist and said that Tesla’s electric car technology leaves rivals in the dust.
One of my favorite quotes from this article is where it states, “one stunned engineer from a major Japanese auto manufacturer examined the computer and declared we could not do it.”
Another reason why the Tesla Model Y performance Model is worth $61,000 is the vehicle’s performance.
When it comes to how fast the vehicle can travel from zero to 60 miles per hour and the top speed, it is virtually unrivaled by other cars in its class.
If you take a look at the zero to 60 mile per hour times and the top speeds of these vehicles, you can see that the Tesla Model Y is the quickest and ties for the fastest among these other luxury performance SUVs.
|SUV Model||MSRP||0-60 MPH||Top Speed|
|Tesla Model Y Performance||$61k||3.5 sec||155 mph|
|BMW X3 m40i||$56k||4.4 sec||155 mph|
|Lexus RX 450h F Sport||$51k||7.7 sec||130 mph|
|AMG Mercedes GLC 63||$74k||3.8 sec||155 mph|
|Volvo XC 60 T8 Polestar PHEV||$70K||4.9 sec||140 mph|
|Cadillac XT5 Sport||$62k||6.9 sec||125 mph|
|Lincoln Nautilus Reserve AWD||$63k||6.0 sec||150 mph|
|Jaguar I-Pace EV400S||$70k||4.5 sec||124 mph|
|Audi E-Tron Premium +||$77k||5.5 sec||124 mph|
The only SUV that has even close to the performance is the AMG Mercedes GLC63, which is more expensive at 74 thousand dollars and is just slightly slower at a 0-60 mile per hour time of 3.8 seconds.
So the zero to 60 miles per hour time and the top speed only measure the straight-line performance of a vehicle, but the Model Y also excels in its handling abilities.
Unbiased automotive experts, Annie Monroe of Monroe associates recently, drove a Model Y performance, and he is very impressed with how well it handled it.
In the video, he mentioned how well the Model Y handled, and when talking about its ability to stick to the road and do well around corners, he said that it felt like it was on Rails.
Cost Of Ownership
One more thing that would make the model Y a good buy is the lower cost of ownership, especially for a luxury SUV.
Several different factors make electric cars cheaper to operate than a gas-burning vehicle. One of the big ones is the lower cost of energy and the higher efficiency of electric cars.
If you take a look at the energy and fuel cost information from the fuel economy.gov website and extrapolate it, you can see that the performance of the Tesla Model Y performance with 21-inch wheels should be around $620 per year driving 15,000 miles annually.
Energy & Fuel Cost
|Tesla||EPA Range||25 Miles||Annual|
|Model Y LR AWD (19″)||316 Miles||$0.91*||$550*|
|Tesla||EPA Range||25 Miles||Annual|
|Model Y Perf (21″)||280 MIles||$1.03 (est)||$620 (est)|
Running costs, including sales tax, energy cost, insurance costs, financing cost, maintenance costs, repairs, and depreciation, would cost $43,960 over five years. Or if you break that out on a per-mile basis, that’s fifty-nine cents per mile.
5 – Years | 75k Miles | $62,190 Purchase Cost
|Sales Tax (7.5%) $4,664|
|Insurance: $7,200 ($1,440 per year)|
|Finance Cost: $4,858 (3% interest for 60 months)|
|Maintenance: $2,000 (tires + Service)|
|Depreciation: $21,1444 (34% of $62,190)|
|Total: $43,996 ($0.59 Per Mile)|
I’ve done a lot of cost comparison articles comparing the Model Y to other luxury SUVs like the BMW X3, the Lexus RX, and so on, and this number of 59 cents per mile for a luxury performance SUV is quite low. It’s more in line with much cheaper vehicles.
Another big reason why the Tesla Model Y performance is worth $61,000 is because of the impressive cargo space that it offers. All the seats folded down in the Model Y have an impressive 68 cubic feet of cargo.
When you see how this compares to some of the other luxury SUVs that we’ve already mentioned, you can see that it’s the second-best on the list second only to the Lincoln Nautilus, which has 68 cubic feet of space.
|SUV Model||Cargo Space|
|Lincoln Nautilus Reserve AWD||68.8 ft³|
|Tesla Model Y Performance||68 ft³|
|Volvo XC 60 T8 Polestar PHEV||67.4 ft³|
|Cadillac XT5 Sport||63 ft³|
|BMW X3 m40i||62.7 ft³|
|Lexus RX 450h F Sport||58.48 ft³|
|Audi E-Tron Premium +||57 ft³|
|AMG Mercedes GLC 63||56.5 ft³|
|Jaguar I-Pace EV400S||51.59 ft³|
Drive Train & Battery Longevity
Another big reason why I believe the Model Y is worth $61,000 is because of the drivetrain and battery longevity. In October of 2018, Elon Musk on Twitter posted this saying, “the Model 3 motor and gearbox are still in good condition after driving 1 million miles designed for ultra-high endurance”.
And on April 13th of 2019, Elon Musk responded to Galilei a rustle of hyper change and said, “Model 3 Drive unit and body has been designed to be like a commercial truck for a million-mile life.
Current battery modules should last 300,000 to 500,000 miles or 1500 cycles. Replacing battery modules not packed will only cost five to seven thousand dollars.
Model Y Safety
Another big factor that makes the Tesla Model Y performance worth $61,000 is that it is hard to put a price on, and that is safety.
According to the NHTSA Tesla’s Model 3, the Model S and the Model X have the lowest probability of injury of any other vehicle on the market that they’ve tested since 2011.
Model Y Injury Probability
According to the NHTSA data, the injury probability of the Tesla Model S is 6.3 percent, the Model 35.7%, the Model X 6.5 percent, and I estimate the Model Y will be around 5.9 percent.
|Model Y||5.9% (est)|
Another significant safety factor for an SUV is how easy does the vehicle rollover. According to NHTSA data, the Model S is 5.7 percent, the rollover risk of Model 3 is 6.6 percent, the Model X 9 point 3 percent,
I estimate the Model Y role of risk will be somewhere around ten point eight percent.
|Model Y||10.8% (est)|
If you compare my Tesla Model Y rollover risk estimates to other vehicles like the BMW X3, the Volvo XC60, and the Mercedes GLC, you’ll see that the Model Y has by far the lowest risk of rollover of any of these vehicles.
So when we talk about the probability of injury and the rollover risk we’re talking about passive safety features built into the vehicle.
Beyond these passive safety features Tesla’s vehicles have the best active safety features built-in which can help you avoid getting in an accident in the first place.
The Euro NCAP data for the 2019 Tesla Model 3 had a safety assessed score of 94%, the highest they’d ever given any vehicle.
The Model Y has the same technology and the software is even further along than this vehicle they tested, so I imagine it’s even better than these results.
Something else that makes the Tesla Model Y performance really worth the money is the fact that it has autonomous Hardware built in.
Every Tesla Model Y has eight cameras that surround the vehicle and give the computers a 360-degree view of the surroundings.
Tesla Model Y Performance Cameras Image
They have a front-facing radar, 12 ultrasonic sensors and Tesla’s own full self-driving computer which they designed in-house.
On top of all this Tesla has a very robust neural network. This neural network is made up of data from millions and millions of miles that Tesla vehicles have driven on autopilot. a future software update should make the vehicle autonomous.
And then the last feature that I want to talk about that really makes the Tesla Model Y performance worse $61,000 is the build quality. In the past Tesla has had some issues with body panel alignment, and pain issues.
The Tesla Model Y still has some paint issues and some minor alignment issues, but Sandy Monroe of Monroe Associates recently completed a tear down of the Model Y SUV to determine how well it was built. He was very impressed with the build quality on every level.
As I mentioned in some of the early Tesla Model Y’s there are some paint issues and some body alignment issues that are being sorted out, the overall build quality of the Tesla Model Y is very good.
The vehicle is going to last a long time because of the way it’s built and the way it’s engineered.
All in all, when you add all these features together and the joy it is to drive the Tesla Model Y, it’s clearly worth $61,000 and it clearly is a great vehicle to purchase.
Our Latest Model Y Articles
- NEW 2022 Tesla Model Y And MoreAt the same time, the Model Y is being updated. Tesla is hard at work on two separate factories that will build the future next-generation Model Y, as Elon Musk calls it.
- The Frightening Economics Of The Tesla Model YEvery Tesla model has arguably been an unforgettable vehicle. The roadster was the first ever to offer the performance and aesthetic to attract car buyers.
- What Would You Pay For The Tesla Model Y Performance?In the spring of this year in 2020, Tesla started delivering the first Model wise beginning with the performance Model, and that performance Model cost around $61,000, but is it really worth the $61,000 cost?
- Is The New Tesla Model Y The Safest SUV On The Road?How Safe is The Tesla Model Y? According to the Euro NCAP Organisation safety tests, Tesla’s safety assist features are far superior to other car manufacturers, and according to Tesla’s data, they do help them avoid accidents altogether.
- How Efficient Is The Tesla Model YBefore we dive into the model Y efficiency numbers and comparisons, I want to take a moment to talk about why efficiency and electric vehicle is so important.