24 months of EV ownership

We are nearing the 24-month mark since we purchased our Tesla Model Y, during which we have driven 26,137 kilometres. Below is a direct cost and CO2 comparison between the Model Y and my previous vehicle, a Kia Carnival, over the first 24 months of ownership. Most of the driving consists of short town trips in hilly terrain, along with some road trips primarily for leisure.

The main cost difference arises from fuel expenses: covering 26,137 km in the Kia cost $9,775, whereas the same distance in the Model Y cost only $297. The Model Y is mainly charged at home using excess solar power. During road trips, charging is often free at the final destination using a standard 240v plug socket.

The Model Y requires no servicing, sparing the annual cost that comes with an ICE vehicle.  $940 was spent on servicing in the first 24 months for the Kia.

However, tyres can wear quicker in an EV than an ICE vehicle.  This is due to the instant torque delivered by the electric motor and the slightly heavier weight of the vehicle.  Recently, at 25,900 km, we replaced all four tyres on the Model Y for $1,744, which constitutes the majority of the costs for the first 24 months of ownership. In contrast, we replaced two tyres on the Kia during the first two years at a cost of $520, with post-COVID inflation possibly contributing to some of the price difference.

​The CO2 savings from EV ownership are substantial, even exceeding the cost savings. Our Kia Carnival would have emitted 13.8 tons of CO2 over 26,137 km, whereas the Model Y, primarily charged using excess solar power or during midday when the grid is 50-60% renewable, has significantly lower emissions at only 0.15 tons.

We look forward to the coming years of EV ownership where the price and CO2 savings will grow even further. ​