Electric car maker Tesla CEO and owner Elon Musk recently took to X to claim Tesla was the lowest-cost car to maintain. He also posted a screenshot from a report titled 2023 Annual Auto Survey by Consumer Reports showcasing maintenance and repair costs across various car brands.
The report ranks Tesla as the most cost-effective option for car maintenance.
Tesla is the lowest cost car to maintain pic.twitter.com/VJjggL4l1E
April 22, 2024Consumer Reports, in its survey, lists costs of car ownership, emphasising that expenses extend beyond the initial purchase price. It reveals significant variations in maintenance and repair costs among different car brands as vehicles age. Brands like BMW and Toyota offer free maintenance periods for new cars, while luxury vehicles often incur higher maintenance expenses over time.
According to the report, Tesla emerged as the frontrunner in terms of low maintenance costs. In contrast, several German automakers, including Audi, BMW, Mercedes-Benz, and Porsche, have been ranked among the most expensive brands for maintenance.
Steven Elek, program leader for auto data analytics at Consumer Reports, emphasised the importance of understanding ownership costs by brand to make informed purchasing decisions. He noted that the disparity in maintenance costs between brands could amount to thousands of dollars over a decade.
The report listed the top brands with the lowest cumulative maintenance costs over 10 years. Tesla secured the top spot with $4,035, followed by Buick and Toyota, highlighting the electric carmaker's economic advantage in the long run.
Here are the top 10 lowest costs of repair and maintenance by brand:
Tesla: $4,035
Buick: $4,900
Toyota: $4,900
Lincoln: $5,040
Ford: $5,400
Chevrolet: $5,550
Hyundai: $5,640
Nissan: $5,700
Mazda: $5,800
Honda: $5,850
However, amidst the buzz surrounding Tesla's cost efficiency, Elon Musk announced the postponement of his much-anticipated visit to India. Originally scheduled for April 21-22, the visit was reportedly delayed due to Tesla commitments, including the earnings call scheduled for April 23.
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