- Tesla introduced again free lifetime Supercharging for the Mannequin S
- It additionally elevated the worth of the automobile by $5,000
- We do some math to see if the promotion is value it, given the latest value hike
Tesla is basically pushing the Mannequin S arduous this vacation season. Whereas the automobile has by no means been a quantity vendor just like the Mannequin 3 and Mannequin Y, it is Tesla’s OG luxurious sedan—and a formidable one at that. However increasingly more competitors for luxurious EVs has entered the market over the previous couple of years, and Tesla’s take-rate is down by an estimated 30% or extra. That implies that promoting prospects on the Mannequin S over rivals has been extra of a chore for Tesla than earlier than.
Just lately, Tesla determined to drag the gloves off and use its largest asset to its benefit: the Supercharging community. Tesla dug deep into its outdated playbooks and revived the limitless lifetime Supercharging perk, which implies that the client of a brand new Mannequin S would get—you guessed it—free limitless Supercharging for so long as they personal the Mannequin S. However earlier than Tesla did that, it additionally raised the worth of the Mannequin S from $74,990 to $79,990 ($5,000) late final week. That makes us surprise: is the deal actually pretty much as good because it sounds?
To determine it out, we did some primary serviette math. Earlier than we dig into the numbers, we have to know simply how environment friendly the Mannequin S is (no less than on paper). The EPA effectivity of the 2024 Tesla Mannequin S All Wheel Drive is 3.6 miles per kilowatt-hour. The Mannequin S Plaid with 21-inch wheels is much less environment friendly at 2.8 miles/kWh.
The U.S. Division of Power estimates that 86% of EV homeowners have entry to a house charger. Of these homeowners, the company estimates that roughly 80% of all charging is carried out at residence. my very own charging stats for the previous yr, 83% of my charging was executed at residence—so let’s assume the DoE’s figures are appropriate.
The Federal Freeway Administration says that the typical driver places round 13,476 miles on their automobile annually (https://www.fhwa.dot.gov/ohim/onh00/bar8.htm), which implies that the typical Mannequin S would use round 3,743 kWh of electrical energy. Solely 749 kWh of that vitality could be from Supercharging, in line with the DoE’s figures.
Tesla does not record its common base charge for Supercharging, however a fast go searching its map has charges starting from $0.25 to $0.60 per kWh. Let’s common that out to $0.43/kWh. For 749 kWh of electrical energy, the typical proprietor would spend round $322 per yr on Supercharging. Because of this it will take 15.5 years of driving to completely notice the $5,000 value hike with the lifetime of free Supercharging. Something after that may be a web constructive, so long as you do not take depreciation into consideration.
Now, let’s speak about that in miles. For the drivers who adhere to the 80-20 charging cut up and journey the nationwide common, the fee financial savings begin to kick in when the automobile hits round 210,000 miles on the odometer. Can a Mannequin S do this? Certain—and then some. However the true worth right here is for these 14%-ers who haven’t got entry to charging at residence. That $5,000 value hike begins to pay for itself in simply 42,000 miles of Supercharger-only driving.
Now, certain, there are going to be some of us who determine that they will use this perk to completely Supercharge their automobile. In accordance with the DoE’s projections, that might account for as a lot as 14% of householders proper off the bat. If these homeowners would cost all 3,743 kWh from Superchargers, it will imply a financial savings of round $1,610 per yr, which achieves cost-neutrality in simply over three years. Over the identical size of 15.5 years, somebody who fees their 2024 Mannequin S AWD would have a financial savings of round $19,950 after the $5,000 value hike.
So, is it value it? Properly, that is so that you can determine. For those who’ve been a Mannequin S and do not thoughts paying the additional value for the limitless Supercharging trade-off, then, certain. However be warned: limitless Supercharging is sure solely to that car underneath one particular person’s account, so it will not switch with the sale of the car. It additionally does not embody idle charges or congestion charges and Tesla says it may possibly revoke free Supercharging “within the occasion of extreme charging”—so perhaps do not hinge making your complete automobile cost on driving for Uber or Lyft.
