Tesla Model S has achieved some milestone progress when it comes to battery life and capacity. The owner of 7 Years Old Tesla Model S explained that his battery is still operating at 98% capacity today.
Tesla Models have slower depreciation in value. It has a long-life battery, for most of the all-electric cars, the battery is major expense when it comes to going Electric.
However, Tesla Model -S has something called Long-term value to offer to its customers. This was revealed on Reedit discussion by the Tesla Model-S owner himself. Model S already has long battery range which is add on for daily commuters.
If the battery goes for a long period its a bonus for the owner. The pride moment for the Tesla creators.
2% degradation after 7 years is nothing. This is called a significant change for offering long term solutions in most adverse time. Tesla is the only company which achieved this leap. For any Model S owner, it raises the resell value. However, we have not seen any Tesla owner selling their old cars yet. Why you would sell a car which has 98% battery capacity even after 7 Years.
CarFax notes that a new $45,000 car will drop in value by about $5,000 almost immediately. Their data show that cars can lose more than 10% of their value during the first month after you drive off the lot. And the amount keeps falling. CarFax mentions that, due to currency depreciation rates, the value of a new vehicle could drop by more than 20% after the first year of ownership. By the time 5 years have come and gone, your car’s value could be around 40% of the original purchase price. Add in live events such as accidents, having a car stolen, etc. No one’s perfect.
So, yes, a Tesla is going to lose value over time anyway, barring an extreme value boost (like Full Self Driving being implemented and regulations allowing robotaxi service), but Tesla vehicle has historically held their value better than their competitors. Some have wondered if that would change as time went on and batteries degraded more, but stories like this one about a 7 year old Tesla show little sign for worry.
Depreciation isn’t the only issue when it comes to money being lost. You have failing car parts, you have to keep up on maintenance, such as oil changes, tires, windshield wipers, and fuel. The normal 12V car batteries in all cars, on average, can last up to around 4 to 6 years. This is assuming ideal conditions: no high temperatures, no excessive humidity, no accidents, no floods — the perfect environment. Warmer climates tend to increase the damage due to water loss and sulfation.
The Redditor noted at the top, “ManhattanTime,” said in his post that he charged the battery up to 90% the night before, as he has always done for the past 7 years. 90% charge gives it 234 miles today. When it was brand new, it would have been 238.5 miles at a 90% charge. This is how he calculated the 98% of the original battery after 7 years of use.
Tesla has come to a long way when it comes to perfecting its batteries, including its Powerpacks and Powerwalls as well as its automotive batteries.
How much further will Tesla go in the next 7 years?