New Again Tesla Model S 60! This past week, Tesla announced the re-introduction of the Model S 60 kWh battery with a range of 210 miles and a base price of $66,000 USD. Other features include the new front end styling and headlamps introduced across the Model S line just a month earlier and the optional 75kWh upgrade to add another 39 miles of range for $8,500.00 USD and the optional Dual Motor for another $5,000.00.
Our sister company, Georgia EVentures, LLC, took delivery of one of the last Model S 60 kWh vehicles produced in March 2015, so we thought we would provide a comparison to see just how good a value the new, now 5 year old Model S 60 is compared to it’s original 60 kWh version launched in 2012.
2016 or 2015 Model S 60 – Which is the Better Value? To make the fairest possible comparison, we used the same color and trim (Blue Metallic, Grey Leather, Obeche Gloss, fixed roof, white headliner), the same options (Autopilot, Tech Package/Premium, Air Suspension) and 19″ base wheels. Supercharging was a $2,000 option in 2015 and standard in 2016; our 2015 Model S has both front and rear Nex Gen seats so a -$1,000 adjustment was made to account for the actual cost of the Nex Gen rear seat in the 2015.
Four factors make up the biggest components of value for the new Model S 60:
- Base price reduction of $3,900 (-6%) for comparable range (210 vs. 209)
- Inclusion of Supercharging which was a $2,000 option in early 2015.
- Decoupling of Autopilot and Tech Package/Convenience features saves $1,750.
- Future ability to unlock 15 kWh of battery/39 miles but not for $8,500-9,000 as offered today: Tesla is still struggling with how to price longer range battery packs.
Bottom line, before Federal and State Tax Credits (Georgia’s $5,000 ZEV tax credit vanished on July 1, 2015), the “New” Model S 60 is a better value at $4,000 less (-5%) than the 2015 Model S.
As they say, timing is everything. And this might just be a good time to finally purchase that Tesla Model S you’ve always wanted!
Fortunately for Georgia EVentures, the Georgia ZEV tax credit more than made up that difference, providing about $1,000 in lower cost versus the comp equipped 2016: yes timing is everything!