Tesla Model Y review - Range, charging and running costs

Tesla charges around £55,000 for the Model Y Long Range and almost £65,000 for the Performance version, which means it costs an extra £12,000 to move up from a base Model 3 into Model Y ownership.

Both private and business users will benefit from lower day-to-day running costs compared to an ICE model, however, while a 2 per cent Benefit-in-Kind tax rate for the Model Y offers added appeal to company car drivers.

The Long Range version has a claimed range of 331 miles. During our own test on a mixture of roads, we managed 285 miles from a single charge, which means you should find the Model Y’s range pretty reliable – reassuring on longer journeys.

If you do have the need to stop and top up the battery, the Model Y has a Type 2 CCS charging connection, so you can access Tesla’s network of reliable, high-voltage Superchargers, or use other EV charging points, too. 

Insurance

Although insurance groups have yet to be confirmed, you can expect premiums for the Model Y to be pretty hefty. The Model 3 hatchback, on which the Model Y is based, is in the top group 50, and it seems likely that the all-electric SUV will follow suit.

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An Audi Q4 e-tron comes with less power and performance, but does offer the advantage of having entry models starting in insurance group 26. Even upgrading to a 295bhp Q4 e-tron in top Vorsprung trim still only raises the German model to group 39.

Depreciation

Our expert data predicts that the Model Y should hold onto around 54 per cent of its list price after a typical ownership period of three years and 36,000 miles covered. This means a Long Range version will be worth around £30,000 should you choose to sell your car on after the 36-month period.

All-electric rivals such as the Audi Q4 e-tron and Mercedes EQA perform similarly, while the Hyundai Ioniq 5 (our 2021 Car of the Year) is cheaper to buy and retains an up to 56 per cent of its value over three years.