Quote:
Originally Posted by Truenorth00
For $42k, you're getting a fully loaded Civic Sedan with taxes in. An RWD Model 3 with no additional options is $60k taxes in. All from the websites. Even deducting the $5k rebate, that's a $13k difference. Let's assume $500/yr for maintenance and $2000/yr (assuming 7L/100km @ $1.5/L and 19 000 km/yr) in gas, that's at least 5 years before break even, not including interest or any fuel cost for the Tesla.
I've seen this comparison before. And it reminds me of the time when I was 13 and was trying to convince my dad to replace his MPV with an Integra, for financial reasons, of course.
What should really kill cars like the Civic is something like the plug in Prius, or maybe the ID3 if it ever came to North America.
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Where are you getting $42k for a Civic Sedan? a top of the line sedan retails for $33k MSRP. $37k if you upgrade to the hatchback. This is $18-22k cheaper than the *cheapest* Tesla Model 3, which has an MSRP of $55k.
Tesla saves you maybe $10k on gas and maintenance over a Civic over 6 years (less once Honda shifts the upper tier models to Hybrid powertrains in 2024) at current gas prices in Ontario, plus you get a $5k incentive, so the Civic still works out cheaper even at the fully loaded trim.
Of course, the base Civic LX sedan has an MSRP of 26k which is far cheaper still, albeit with fewer features..
A Tesla will likely be cheaper in Quebec and BC given the higher gas prices and larger EV incentives, but not really in Ontario.
What would kill the Civic is a well-equipped EV in the mid-$40's, or a more base model which is sub-$40k.
The Volvo EX30, if it retains the US pricing scheme in Canada, promises to get close to that with the base model having an MSRP of about $46k. With incentives in Ontario, that's only a ~$3k premium over the Civic Touring.
Civics have also notably moved up-market in recent years and are not the economy boxes they once were. The Hyundai Elantra takes up that space today, with a $21k MSRP. The Civic has a 25% premium over that.
Also - don't EVs require more frequent brake changes than ICEs?