Friday Find: Tesla Tom compares ownership costs between Model 3 and Camry Hybrid

It would be easy to think that when comparing the cost of Toyota’s Camry Hybrid with Tesla’s Model 3 – if one were inclined to make such an odd comparison – the much cheaper Camry would come out on top in the ownership stakes.

However, a number of stories in recent months have highlighted key factors that show the Model 3 – now available for just under $60,000 – can be the more cost-effective purchase if the vehicles are sold after five years with an average of 20,000 kilometres added to the odometer each year.

In a recent video published by YouTuber ‘Tesla Tom’ (a Tesla fan and owner who holds the Camry Hybrid in high regard), this exact argument is made.

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Camry SL Hybrid pictured

Along with the above details, some assumptions need to be made, including an average price of $1.50 per litre of petrol for the Camry, with a 5.0L/100km fuel consumption figure. (Officially, the Camry Ascent Hybrid claims 4.2L/100km, and a real-world figure would likely be higher.)

A depreciation of 40 per cent over five years is also assumed (although the overall Camry range has shown higher rates in recent times).

Likewise, assumptions for the Model 3 (this time based on his experience) include a 16kWh/100km efficiency rate with around 1kWh per day of “phantom loss”, along with 90 per cent of its charging carried out at home with a price of 6.6 cents per kWh. The remaining 10 per cent is given to Tesla Supercharging locations, at 52 cents per kWh.

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A five-year depreciation rate of 20 per cent is given for the Model 3 – although this number is based on US data, as nobody in Australia has owned a Model 3 for so long just yet.

These numbers are all explained more specifically in the video, along with servicing/parts costs and the incentives available for EVs, but – without spoiling the verdict – the screengrab below shows a breakdown of the anticipated costs.

How does it turn out? Hit play on the video above!

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