A simple way to save money with Tesla Car

02.08.2016
A simple way to save money with Tesla Car

The future of passengers cars is here and Tesla Motors owns the credit of innovating better options to save money and fuel with electric cars.

With the global outcry on the relentless and unplanned use of our fossil fuels, specially the petroleum products, it was only a matter a time that some automobile company would come up with a mass produced car that could take our reliance away from the expensive and exhaustible petroleum products. Although many companies, for many years have tried and tasted limited success in the production and sales of vehicles with alternate power sources, none has been able to really take the production, distribution and development of Electric Motor Vehicles such as the American Automobile company ‘Tesla Auto’. Shooting into global prominence upon the launch of its first fully electric sports car, the “Roadster “in 2008, also dubbed as the first highway capable all electric vehicle in serial production in the world, and building upon its success of selling more than 200 units of the vehicle in almost 30 countries, Tesla Motors firmly established itself into the newly created and fast growing niche of the BEV( External link Electrical Vehicle). Although the company first turned profitable only in the first quarter of 2013, but it did impress the automobile aficionados of the world with its further innovative Tesla electric car models such as the Luxury Sedan Model S, and the first electric crossover of the world Model X. The worldwide sales of the model S passed the important landmark of 100,000 units in the last quarter of 2015 and was the world’s best selling plug in electrical vehicle in 2015. So far, the company has been able to sell more than 1, 25,000 vehicles throughout the world, since the launch of its first vehicle, the Roadster which was introduced around 8 years back. The upcoming Tesla Model 3, slated to be the most affordable Tesla car yet and to be launched for sale in late 2017, is expected to turn huge volumes and make the battery powered cars much more within the reach of the common people, since this Tesla car price will be quite competitive in its segment.

 

The TECHNOLOGY behind Tesla:

Unlike a traditional petrol or diesel powered vehicle, cars made by Tesla have much fewer parts and electrical systems. The biggest and the most noticeable technical difference is that the electric cars manufactured by them does not have the tried and tested Internal Combustion External link but instead has a large group of rechargeable Lithium Ion External link. In fact, the Tesla car, Roadster has 6831 of these batteries.These batteries are fitted into 11 separate sectors holding 621 batteries each. An advanced computer processor controls these batteries to ensure that the batteries charge and discharge seamlessly and does not let the vehicle undergo a power shortage at any point.

The batteries are charged through a system called a Power Electronics Module (PEM) which is basically a power inverter that converts DC power to AC power using insulated gate bipolar transistors (IGFBTs). These super efficient batteries, first used in laptops, can provide an impressive output of 200Kw of energy. To put things into perspective, this much power can light 2000 light bulbs. The same Power Electronics Module also controls various other critical functionalities of the vehicle such as the voltage levels, the all important RPM, torque and the braking system. There are multiple onboard sensors in the vehicle that sense and analyze all the important parameters such as acceleration, deceleration, tilt temperature and presence of smoke etc.

SO CAN THERE BE SOME REAL SAVINGS USING A TESLA

Although the initial Tesla automobile price is quite substantial, but research proves that the extra money shelled out during the purchase can be made up in substantial savings in the coming years of the life of the vehicle. The following pointers can prove that and it does make sense to own a Tesla car not only towards owning a top of the line powerful luxury car but also have substantial savings when seen with a long term vision.

  1.  Government Subsidy: Many states in the United States and the governments in various other countries encourage the use of non fossil fuel cars by levying lesser taxes on the vehicles as compared to normal gasoline powered vehicles. In some places, even the actual car cost is subsidized to improve ownership figure. For example in the state of Colorado, USA, the federal and the state government put together incentivize the Tesla purchase by offering as much as 13500USD worth of incentives.
  2. The obvious, No more Gasoline! : The price and availability of Gasoline fluctuates sharply and is heavily dependent on global supplies, more and more analysts believe that the global oil prices are on an upswing and will increase in the years to come. With a Tesla electric car, there is no need to think about all that, since an electrical point is all you need. According to a comparison of the Tesla model 85D to a similarly powered External link 30MPG in the United States; it was found that the fuel costs of Tesla are almost half of that of the External link. Multiply that by the years of ownership, and this figure of the saved money can very well pay for the vehicle itself thereby reducing the effective Tesla car price by a huge margin.
  3. Much Lower Maintenance Costs: Since the Tesla automobile is an electrical vehicle, it does not need the mandatory engine oil changes, which over time add up substantially to the overall maintenance cost. At the same time, other consumables such as an Air Filter or a one odd fuse that need to be changed in traditional vehicles need not be done in a Tesla electric car. Since the Tesla has fewer mechanical parts, regular tuning up, tightening of belts etc is also not required that frequently. It is a well established fact that the repair and maintenance costs in the Luxury car segment is actually quite substantial and adds up in a huge way towards the overall ownership costs. With a Tesla automobile that requires much less maintenance, these ownership costs, spread over time are reduced drastically over time. The braking system of Tesla cars, known as the regenerative braking system, is also said to be much more efficient than the traditional braking systems that require frequent repairs and replacements of the brake pads. Since the cost of repair of braking systems is quite high, Tesla does save a fair bit here.
  4. Lower Insurance Premiums: Owing to the incredible safety ratings of a Tesla automobile, its insurance premium is often substantially lower than other vehicles and that makes for a smart chunk of savings. Comparing apples to apples, it was found that in the state of California, the annual insurance premium of a Tesla S was a whopping 320 USD lesser than a comparable Lexus GS350. Over the lifetime of the vehicle, this amount can be quite substantial.

  1. Great Resale Value: Tesla automobiles have much better resale values compared to the traditional high end luxury automobiles in its class. According to a Forbes report, a used Tesla car can even sell at a higher price than its Retail Sale Price, the reason being the huge demand and limited supply that is driving the car enthusiasts to buy in the resale market rather than wait out the steadily increasing waiting periods. This is a great financial benefit of owning a Tesla automobile, knowing that it will command an excellent resale value thereby drastically lowering the ownership costs and the effective Tesla car price.
  2. No Need for Emission Testing: With the environmental laws getting stricter and emission norms becoming more stringent, emission testing certification has to be carried out on most traditional cars periodically. This process costs, over time, a reasonable amount of money and also time. In a Tesla automobile however, there are no emissions and therefore no mandatory emission certifications. This can save a decent amount of money in the long term. 
  3. Time Saved: Many people argue that if Time is Money, the Tesla electric car does save a huge load of it in many ways. First, the average time spent in refilling a gasoline powered vehicle, depending on the place of stay can be as long as10-15 minutes per refill, at times even requiring a drive down to reach a gas station. Further, in many states and countries the electric car owners are incentivized by using dedicated vehicle lanes hence saving them considerable time. Add to this the time spent at frequent repairs, replacements and statutory certifications. All this time saved by a Tesla automobile owner can be used to do something more economically productive. Since Tesla is a high end luxury car that is quite expensive to buy, the owners are also expected to value their time much more than others. To that end the time saved in Tesla ownership can translate into quite a bit.

Although the financial savings of owning a Tesla automobile can be quite a bit, but the positive environmental impact is also something worth active consideration. Since there is zero emission in a Tesla car, it can have a significant impact on the pollution levels of any place, especially the ones that have higher levels of pollution. With governments and organizations all over the world looking at ways and means to reduce our dependence on fossil fuels and engage in more efficient and sustainable practices, it is only a matter of time before many more automobile manufacturers start investing in the BEM technologies and can create affordable and economically viable Battery Operated Cars, which can quickly be scaled up and popularized, such as the Tesla Model 3, which has a huge demand, even before launch. With the immense demand of motor vehicles in developing countries and the environmental laws becoming stricter at the same time, these electric powered cars hold a great potential in terms of sale, specially the pioneer companies like Tesla Motors that makes only electrically powered vehicles and has great expertise and experience in the field.