3 minute read
Model 3 Brought Big Savings
We’ve covered stories about several police departments switching from older gas cars straight to Teslas, usually Model 3s, but now we’re starting to hear about the benefits they offer over ICEs.
Aside from from the performance and no tailpipe emissions, it turns out a Model 3 is considerably less of a financial burden once purchased.
Yes, EVs are still more expensive to buy outright, but according to The EV Club of Connecticut, they are actually cheaper to run and maintain in the long run. It analyzed data from the Westport Police Department, which purchased its first Tesla Model 3 in late 2019, putting it into active service in January 2020.
The police department’s existing fleet consisted of Ford Explorer SUVs that cost around $37,000 to buy, compared to the Tesla Model 3’s $52,290 acquisition price. That’s a $15,290 difference, but based on information supplied in the source article, the Model 3 ended up saving them money.
Between the lower customization cost, savings on fuel and lower maintenance, it was calculated a Model 3 would end up costing the police department $95,800 all in after four years. Compare that to the estimated $120,200 needed to buy, modify, maintain and run a Ford Explorer—that’s a $24,400 difference, or savings of $6,100 per year.
Westport Chief of Police Foti Koskinas said they got help from Tesla to adapt the Model 3s for police use. He pointed out Tesla has been a great partner, including re-coding where necessary.
“We would not have been able to do things like wire the electronics into the large battery or access the car’s computer without their help,” Koskinas said.
“Feedback from the public has been overwhelmingly positive,” Koskinas continued. “We’ve have been contacted by at least 50 other police departments—from all over the world—with questions about our experience. I know many of them have gone on to purchase Teslas for their fleets.”
It is worth noting the pilot vehicle, bought in late 2019, only cost $14,300 to customize and the customization cost will more than double for future Model 3s bought for police duty—presumably because outside help was provided for free since it was a pilot vehicle. Even so, it will still be marginally cheaper to convert than the Ford Explorer.
The Westport department intends to purchase another Model 3. It also operates a BMW i3, though not for patrol duty like the Tesla.
Continued from Cover
Economic Outlook
prices in June compared to 2020. While economists expect inflationary pressures like this to be short-term, it is weighing on consumer minds.
Employment in the sectors hardest hit by the pandemic continues to improve, especially leisure and travel. Average hourly earnings are also up, suggesting employers are having to offer higher wages to attract workers.
COVID-19 cases have also risen in recent weeks. If outbreaks emerge more broadly, economic activity may slow down.
Want to learn more about the economic factors shaping our industry? Download the new July Industry Indicators report today at www. sema.org/research.
Source: SEMA
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