Why Are Tesla Cars So Expensive

Only two electric vehicles were among the top cars in 2022. One thing unites these two electric cars: they are both Tesla models. According to sales volume, the Tesla Model Y and Model 3 are the best-selling cars in the world. 

The range can be a key factor for purchasers when selecting an EV, and Tesla models have some of the best ranges available. Yet, given that Tesla models often have luxury automobile price tags, some purchasers may look for an electric vehicle on a tight budget. Why are Tesla cars so expensive? Several factors contribute to Tesla models’ increased cost, including:

The Range of Tesla is Better

When it comes to the driving range, only one other electric vehicle manufacturer can match Tesla, which most Nigerians haven’t heard of. A few Lucid models have the best range ratings on the market; the Lucid Air Dream Edition and Lucid Air Grand Touring both have range estimates of 520 and 516 miles, respectively and even with these ranges, they aren’t quite popular. 

The range offered by Tesla’s electric vehicles is excellent. The projected range of the Tesla Model S is 405 miles, while the estimated range of the Model S Plaid is 396 miles. which we have to determine is quite impressive, you should expect to drive for a long time without charging it. 

Tesla models come standard with numerous luxurious features

Depending on the manufacturer and price range, a car’s standard features may be basic or luxurious. Tesla models cost more and are more in line with luxury costs, but they come standard with a lot of luxury features, so they aren’t for the masses.

The most affordable sedan in the brand’s inventory is the Tesla Model 3 RWD (rear-wheel drive). The Model 3 has an N40,000,000 entry price, which we can say is very expensive, coupled with the electricity bill you might be paying, making it a double charge. The Model 3 might be regarded as an entry-level luxury electric car (EV), with a starting price of about N44,000,000. 

The power and high-end capabilities of the Model 3 are available even at the lowest price tier. It can go from 0 to 60 mph in 3.1 seconds and reach speeds of 162 mph. One thing Tesla is known for is speed. The design features front, back, and side 360-degree cameras. Within, there is a 15-inch touchscreen and a spot for two smartphones to charge.

The brand’s reputation

Tesla contributed to the popularity of electric vehicles. Tesla is renowned for its inventiveness and might be to the EV sector what Apple is to the digital industry and smartphones.

The pricing may reflect the demand for the brand and its reputation when a brand establishes its hegemony in any industry.  Tesla has a long history of creating luxury, long-distance electric automobiles. Some customers view the brand as a status symbol as well.

Customers can be more inclined to spend more money on a car that represents more prestige. Buyers choose a brand that nevertheless provides quality and value for the money. Tesla provides some of the most advanced features, cutting-edge technology, and vehicles with the longest ranges.

Mechanical Aptitude

The driving experience may differ depending on the model you choose while looking for an electric car. Electric vehicles have excellent acceleration, although the power of an electric model can depend on the motor’s design and other mechanical factors.

Customers who purchase Tesla models often have the option to select from a variety of motor configurations; the two most common choices are dual or tri-motors. The performance of the car is impacted by these motor selections; more motors equate to more capabilities and power. Many of Tesla’s models come standard with dual motors, while several also offer a tri-motor option.

Some electric cars only come equipped with one motor. All of the power for the wheels and the car must come from this one motor in a single-motor vehicle. Vehicles with two motors have more power and can have one motor power the front wheels while the other drives the back wheels (all-wheel drive, or AWD).

Will Tesla reduce the price?

Tesla models may cost more than competing electric cars, but the cost of a new Tesla may be declining. The ordinary consumer’s purchasing power is being impacted by inflation and rising auto loan interest rates, so Tesla has taken action to lower the price of a couple of its models. Tesla is lowering the prices of the Model 3 and the Model Y.

Buyers who want to buy an electric vehicle may benefit from the cheaper prices, as they might decrease in the future. 

The Cybertruck is another cost-effective variant offered by Tesla. The Cybertruck’s delivery date is not yet known, though. Starting at N35,000,000, the Cybertruck can cost up to 

The price of some Tesla models could be lower than in the past, but the price might still be out of reach for some buyers. While there are more affordable electric vehicles on the market, some buyers want the status evoked by the Tesla brand; they also might want the longer range of these vehicles, too.

Shopping for a used Tesla could help buyers buy the brand they want at the price they need. Tesla offers a page on their site for used inventory; car shoppers can visit this page to find used models in their price range.

However, buyers shouldn’t expect to find Tesla models for incredibly low prices. The least expensive Model 3 offered is still more than N20,000,000. While shopping, used models could be a more affordable option, but even used models might be too expensive for some buyers.