The Tesla Model 3 still offers the best value among luxury electric vehicles

Vincentric, a provider of automotive industry data and insights, named the Tesla Model 3 the winner of its 2022 Best Value in America award in the luxury EV/PHEV category. Vincentric uses its Dynamic Cost to Own database to measure the overall cost of owning and operating a vehicle and its impact on the overall value for buyers.

The Tesla Model 3 is the smallest and most affordable car produced by the electric vehicle maker. In 2021, the Model 3 received several updates from the previous year, including longer battery life on a full charge, better performance, a sleeker interior, and several additional standard features.

Vincentric recognized the Tesla Model 3 alongside the BMW 3 Series (Luxury Compact), Audi A7 (Luxury Large Sedan), Chevrolet Corvette (Luxury Sports Car) and Lexus LC Hybrid (Luxury Hybrid). The Model 3 also won the award in 2021, a remarkable achievement in light of the many compelling options available.

Why did the Model 3 win the Vincentric Best Luxury EV award?

Tesla Model 3 | Frederic J. Brown/AFP via Getty Images

Here’s why Vincentric considers the Tesla Model 3 the best value among luxury electric vehicles:

Low damping

Tesla Model 3 cars hold their value at an almost unbelievable level. An iSeeCars report shows the vehicle retains its resale value more than five times better than other EVs in its class and four times better than all other vehicles in the study. The detailed report shows that a Model 3 would only lose around 10% of its original value over three years, compared to an average depreciation of 52% for EVs and 39% for all other 3-year-old cars.

Excellent fuel economy

First, Tesla made a significant change to the base model, which now features a new lithium-iron-phosphate (LFP) battery instead of the lithium-ion batteries used by other car variants. Either way, all Model 3 versions are incredibly fuel-efficient, achieving 132 mpg per gallon equivalent (MPGe) for the base version and 131 MPGe for the Long Range model, reports the US Department of Energy. . Even better, the base model consumes 25 kWh of energy for every 100 miles of driving.

Tesla Insurance and Maintenance

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Insurance costs for the Tesla Model 3 are about average for an electric vehicle of this type. However, Model 3 owners – like all other Tesla vehicle owners – have the benefit of Tesla Insurance. Because Tesla has access to technology from the car, such as real-time sensor readings and camera recordings, the automaker can quickly and accurately estimate crash risk and potential repair costs.

The company uses this information to provide personalized insurance premiums that reward good driving with lower premiums. This data also helps identify items in need of repair before they fail, saving owners on maintenance and repair costs.

Features of the 2022 Tesla Model 3

The 2022 Tesla Model 3 is an affordable yet feature-rich car that offers the best value among electric vehicles. Consumer Reports rates its speed, efficiency, performance and battery life. And those perks come at an accessible starting price of just over $46,000 for the base model.

Due to its smaller LFP battery, the base rear-drive variant has the lowest range in the Model 3 family at 263 miles. Still, that’s 10 miles longer than the old Standard Range Plus version. The Performance and Long Range versions get over 300 miles per full charge, with 315 and 358, respectively.

And the Model 3’s active safety features, including automatic emergency braking, active lane control, blind-spot monitors and adaptive cruise control, make it a car that EV enthusiasts can keep up with.

RELATED: Consumer Reports Ranks Only 1 Luxury Electric Car Below the 2022 Audi e-tron

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