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I worked at Tesla starting in July of 2017 as an Operations Analyst out of the Bethlehem, PA distribution center facility and left as a Program Manager based out of Austin, TX as of September 2021. I spent most of my time in the distribution and supply chain organizations.
Before Tesla, I was a Director of Business Intelligence and Pricing at the largest Pet Food & Supply distributor in the US, Phillips Pet Food & Supplies based out of Easton, PA. My wife and I also owned a small business in Bethlehem, PA between 2016 and 2019.
I have been a shareholder of Tesla since 2012 and currently own Tesla stock.
My thoughts are my own and are not representative of everyone who currently works, or has worked at Tesla.
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If you don’t pay the full $7500 in taxes in the year you purchase the car, (low income) can it be used in the following years?
I understand in 2024. It’ll be an up front discount when you buy the car.
Like your blueberry shirt
Thanks Farzad!
My last 5 vehicles before my Model 3 were Lexus/Toyota, moving forward I will only buy 1 brand starts with T but is not toyota.
I wonder if the plant in Mexico will be producing the $25000 car in volume or will it be > 2.5 years. A van/people hauler after the Cyber truck would really fill out the assortment of models that Tesla would be a major player world wide.
Pretty good explainer, Bravo! The proof will be in the pudding on longevity, hoping they ramp up the van, wasting time on something they could do cheaply and ramp to extremes fast that is needed, being begged for actually. Imagine FSD for a delivery driver……
There is a huge need for all the Tesla YouTubers to repeatedly remind viewers when discussing comparison pricing from ICE vehicles to Tesla that you don t buy gas! The average viewer just does not understand the difference in operating costs!
Good evening Farzad, what are your thoughts on BYD's Sodium Ion battery that they are looking to incorporate into their cars later this year? They are saying it's much cheaper to produce than Lithium.
Your really not saying Tesla has an SUV? Furthermore the RAV4 is not a SUV either. Not banging any of them, but they are glorified cars.
Toyota America is atrocious. Have you ever watched their commercials. Of course we have – ubiquitous and such nonsense. Go to a stealership and yikes. Buying experience is demoralizing at best. But, even Tesla (I’ve had a Rav Prime and now a MY) is devolving into profit chasing. Bottom line, autos are transportation and little else. All this analysis is just that…
25000 car minus 7500 credit = 17,500. Minus $1500 down payment. 60 month loan @ 7% for average credit. NEW CAR FOR $320 PER MONTH and no gas. I'm guessing boomers, college kids, 2nd car families and most 16 year olds all get the new Tesla when it comes out.
Time for Elon’s bottom feeders to get a real job
Those blueberries 😅
In San Francisco, electricity is 37 cents/kwH (41 cents peak), gas is $4.99 + for regular. Would be nice if you put in a calculator we could put our own numbers in for comparison.
GM dropping Bold for e-Silverado is great! Will force truck nuts & rednecks into EVs incl Teslas 🙂
Thank you for the video. 1. I would have loved to see a rav4 prime added to the comparison.
2. Teslas usually cost more to insure. You have to wait a long time for spare parts and if there is a large enough size collision they get totaled.
3. It is my understanding that Tesla tires have to be replaced more often as they wear off faster.
4. You probably need to add the cost of a level 2 charger and its installation. Without such a charger the cost of charging is going to go up as public chargers have higher rates.
5. Toyota dealer markups and the tax credit of $7,500 do make a difference. There is no doubt about that.
With all the credits factored in Tesla MY is cheaper than a limited Rav4.
it is wrong, Toyota Rav 4 they have a at least 2000 mark up also you need to wait more than 4 months. Tesla you don't have a mark up and you no need to wait for long time. I think if Rav 4 production catching up the demand, they will be the best selling SUV
1) Not many owners will keep a car for ten years. Five year cost of ownership and trade-in price would be a more useful comparison.
2) Fuel costs are spread over the period of ownership. Purchase costs are paid up-front, or one pays interest on a car-lease.
3) On the plus side, if fuel costs are lower, owners will probably drive further.
Same thing happened in Australia. Best selling car for years was Toyota Corolla. Now its model Y.
The tax credit will become a functional down payment and lower the cost at the same time. When payments start with the number 5 or below, BEV is the obvious choice. If you have bad credit and get a bad interest rate, you will pay just as much for an immensely old and quite obviously inferior vehicle. The choice to purchase a BEV becomes obvious at that price point.
🤯nice comparison mind blown
RAV4 sold before they come off the truck in Portland area. Toyota can't seem to make enough of them. Plenty of Teslas here too
Farzad thank you bro for the notable benefits of an EV. But my wife and I didnt honestly even consider any of these data as we were not considering an EV at all. She had her mind set on a Kia Telluride but after painfully going through 3 dealership we could not come to an agreement. Our 2nd option was a Toyota Highlander – same issue. Dealership problems it honestly gave us a migraine goin back and forth. It wasn’t until a friend said for those prices might as well get a Tesla.
After 2 days or research she purchased a Y on the inventory list. The whole purchase through the app took less than 10 minutes including but not limited to the approval of the financing. In summary after delivery she said she will never buy another brand ever again. Tesla”s entire buying experience is nothing short of hassle free and peace of mind.
Moreover, the more she drives the Y the more we realize that it’s not even the car although it drives as good as the higher end bmw and Benz…But the the simplicity of the software and technology of Tesla. There”s no substitute! Thanks a million for all your analysis brother you are being generous and conservative with your data. If the consumers only knew what the true benefits are….
I operate and drive 2 taxis in Norway. 1 Toyota Prius and 1 Tesla Y. The costs of charging and service in the Tesla are less than half of the Toyota. Incredible that a car so fun to drive is emission free, cheap to operate and the passengers live it too.
Because the bottom line of the tumbnail is red, it looked like I allready watched the video. Might make less people click on it.
.12💲 /kwh seems to be very cheap to me. Is this home charging only?
Yet another crystal clear presentation. Really appreciate the work you put into these.
Lots of Model Ys and 3s here in the UK. I own a Model Y.
It would be nice to know how Tesla structures their lease payments with the IRA tax credit. Once a consumer has made the decision to go BEV, there is the monthly outlay that up to this point is still hazy. It would also be nice to know how the residual values compare, which heavily influence the monthly payment. Toyotas typically have residuals ranging from 60%-74% of the MSRP depending on the model car or truck. This translates to financing only 40%-26% of the MSRP. Now that Teslas are coming onto the used car market there should be some stats on how much they hold their value. Thanks for all the work you do to help educate consumers.
I think you need to include sales tax as a percentage of upfront cost. That will benefit the RAV4 and change your outcome
Good analysis. For home owners.
Could consider also doing one for apartment dwellers. That is, using supercharger rates for energy.
To counter the above (which would lower the appeal of the Y) option UP the RAV to have the features of the Y. For this I don't know how far you will get. Seat (wheel, radio…) memory for multiple drivers. Basic autopilot capabilities. In-car mapping (upgraded infotainment).
OK, this would be a tough task. But would highlight what one is missing.
I have a very detailed excel with that type of math, and you have to make sure you include also either cost of capital or cost of opportunity, depending on whether you look for finance or not. Still, math is favourable to the EV. Although at the end of the day depreciation is the biggest factor in any informed decision making, EVs last double than ICE cars, maybe more, we don't even know yet.
In which f*king way the model y is an SUV!? WTF!!!