Since 2003, the founders of Tesla Inc. (originally Tesla Motors) have envisioned building a company that is both a world-wide leader in clean energy-based technology and the leading independent EV automaker. Despite some hiccups and controversy over the years, Tesla surpassed Toyota in July, 2020 to become the world's most valuable automaker with a market capitalization of $206.5 billion.
The Model X is one of four current Tesla offerings and sits in the 'mid-sized cross-over SUV' segment. It can be had with two or three rows of passenger seats accommodating five to seven people. Aside from the obvious EV advantages, the Model X features many unique design cues such as a huge panoramic windshield and double-hinged 'falcon wing' rear doors that electrically fold up in two sections so the panels stay close to the body of the vehicle. With prices ranging from $85K for the longer range model to $163K for the ridiculously fast 'Ludicrous' Performance model, these cars are clearly not for everyone.
When we factor in maintenance, repairs, electricity and depreciation, how much does it truly cost to own a Tesla Model X? Let's find out.
Edmund's True Cost To Own (TCO)
Edmund's proprietary TCO data measures important categories to determine how much it will truly cost to own a vehicle over a five year span. Tesla charged approximately $100K for a new 2019 Model X 75D. Edmund's calculated an average total maintenance cost of $6272.00, repairs of $1892.00, insurance at $7400.00, fuel at $3119.00 and depreciation of $60K. All the data concluded the TCO for the Model X is the same as the original purchase price, approximately $100K. For perspective, the Audi Q7 is $69K new, but the TCO is $85K.
Taking a deeper dive into the data, we find that insurance prices are far more reasonable now than they used to be for Tesla owners, because the company partnered with Liberty Mutual in 2017 to offer their own vehicle insurance coverage called InsureMyTesla.
Depreciation for EVs is generally far higher than regular combustion vehicles, however Tesla bucks that trend as their vehicles actually have some of the highest value retentions on the market. The 60-percent we see above is quite good overall.
Fuel Savings
Along with leaving a smaller environmental footprint, fuel costs are of course a major reason why we buy EVs, as the cost of electricity is far lower than regular combustion fuel. Assuming an average gas price of $2.29 per gallon, you can save approximately $775.00 over 15K miles driving a Model X 75D.
While these are impressive stats, we can't paint a complete picture of the relative fuel costs without discussing other factors like purchasing an upgraded High Power Wall Connector (HPWC) for your home. The level 2 charger upgrade is a must unless you like waiting fourteen hours between charges, and it costs $2K+ with installation of a 240-volt power supply. Alternatively, you can hunt around for one of the 1800+ Tesla supercharger stations worldwide, and wait approximately twenty minutes for a 50 percent charge.
Actual Repair Costs
Before we begin, it must be stated that you do NOT want an out of warranty Tesla. Do whatever you must to buy an extended warranty covering as much of the vehicle as humanly possible! Regular maintenance costs while under warranty are fairly reasonable considering the high-end nature of these vehicles, however, the company currently charges $195.00/hour for labor, and you can't get your Tesla repaired by anyone else. FYI you also must buy genuine parts from Tesla. If you're lucky enough to live somewhat near a dealership or service outlet, they actually offer a mobile service program at no extra surcharge as well as a 'no-touch' option so you don't have to be present to unlock your broken down car, but that's where the good news ends.
Elon Musk himself claims current batteries should last 300-500K miles, but unfortunately according to many unhappy owners that isn't always the case. A Tesla battery pack consists of four modules, and each costs $5K to $7K to replace.
Other horror stories for out of warranty repair costs have included replacing the A/C unit for $5K; the infotainment screen will run you $4K and the gauge cluster screen is another $4K. Outside the car it's $1K to replace an electric door handle and another $1K for each headlight.
The brakes are supposed to last approximately 100K miles under normal driving conditions, but who drives a 500+ HP car normally? If you're forced to replace the pads, calipers, and rotors, expect an $8500.00 bill for all four corners. The rear half-shafts will run you $3500.00 for both, and they break more often than you'd think.
Consumer Reports gave the Tesla Model X a 1/5 rating for overall reliability. They cited poor ratings for paint and trim, body integrity, in-car electronics, and body hardware issues. CR also gave the Model X an overall score of 15/100, claiming it was among the ten least reliable cars in the US as of 2018. The one redeeming feature in these low scores is the fact that Tesla has always quickly addressed every problem its vehicles have encountered, and made improvements in a matter of months. Unlike other brands, Tesla doesn't have regular model years and thousands of surplus cars sitting in lots all over the world, so the defects don't last very long in production.
The moral of the story is this: The Model X is an incredible and exciting vehicle with unique design features and scary performance, however, do NOT buy one unless it comes with an extensive warranty.