What can we learn from this?

Some Uber and Lyft drivers in the US have started to switch to Tesla vehicles. By doing this, they can increase their profit margin because gas prices have gone up quite a bit. Between June 2021 and May 2022, the number of Uber drivers increased by 186%, according to statistics from Gridwise.

Uber drivers in the US are switching to Teslas: What can we learn from this?

Heidi Barnes, 34, bought a Tesla Model 3 last year. She nicknamed her “The Beast”. The Model 3 replaced the 2009 Toyota Camry she was using. Heidi is a driver from Lancaster, California. She decided to buy the Model 3 when gas prices topped $4. In one day alone, her tank full of her started going for around $100, which used to cost $60. This significantly decreased her earnings. She said: “It was a huge boost to get into a Tesla sooner rather than later.”

He decided to rent a Tesla Model 3 for a month through Hertz, which works with Uber. They offer drivers a weekly rate of $344 that includes insurance, basic maintenance, and unlimited miles. Even after factoring in the cost of recharging the car, Barnes was paying about $450 a week. This was less than $600 required to refill the Camry’s fuel tank. In the first week, Barnes’ earnings covered the cost of rent for the month.

Uber drivers in the US are switching to Teslas: What can we learn from this?

Tesla is also quite nice in foreign markets because of this, Heidi receives more generous tips. With the Camry, she used to get $1 to $3 tips, now she gets about $10 or $15. She said: They are much more generous. I’m usually lucky enough to get $1 to $3 tips, but now it’s $10 or $15, sometimes consecutively.”

As we can see, electric vehicles are significantly cheaper to operate, especially if you will be covering a long distance in them. The maintenance cost is also low because you would only need to spend on consumables and things that wear out.

Cost comparison between electric vehicle and ICE vehicle

Earlier this year we covered the cost differences between electric vehicles and internal combustion engines. The difference was made by one person who owns a Hyundai Kona Electric and has driven over 50,000 miles in it.

The Hyundai Kona costs Rs. 25.3 lakh on Delhi road. By comparison, a high-end Hyundai Creta Petrol costs Rs. 21.16 lakh and the top-end trim of the diesel costs Rs. 21.65 lakhs The owner has used 11 megawatts of electricity. This includes both domestic and public charging. His total money spent on charging is Rs 91,480.

He mainly used household charging to charge his car. You can also use public chargers. They are fast but also expensive compared to home charging. He compared that if he had used a petrol automatic Hyundai Creta for 80,000 km he would have to spend almost 6.99 lakh and if it had been a diesel automatic Hyundai Creta for the same amount of kilometres, he would have spent Rs. 5.41 lakhs.

Now, that’s a big difference. Compared to Petrol Creta, the owner saved Rs 6,08,232 and Rs 4,50,000 lakh, compared to Diesel Creta. If you want to delve into this story, you can click here.

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