Tesla Inc TSLA has the lowest maintenance and repair costs of any automotive brand, according to new data from Consumer Reports' 2023 Annual Auto Surveys.
As shared by Electrek, the surveys gathered data directly from thousands of vehicle owners across the United States.
For years, automakers like Tesla claimed electric vehicles would have significantly reduced repair and maintenance expenses due to having far fewer moving parts than gasoline vehicles.
Also Read: Elon Musk Agrees Every American Household Will Have A $1,000-Per-Month Home Robot In 7 Years' Time
Consumer Reports' findings confirm this, showing Tesla had the lowest cumulative costs for both the 1-5 year and 6-10 year ownership periods.
At the other end of the spectrum, German luxury brands like Audi, BMW, Mercedes-Benz, and Porsche ranked as the most expensive for maintenance and repair costs. This data provides evidence backing up the EV advantage of lower running costs, which could drive more consumers towards electric vehicles like those produce by Tesla.
Now Read: Donald Trump May Soon Receive 36 Million More DJT Shares: Key Milestone Ahead
Photo courtesy of Tesla
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.