Tesla has launched an all-new bundle for buyers of the 2024 Tesla Model S and 2024 Tesla Model X that includes Full Self-Driving, Premium Connectivity, and unlimited Supercharging.
The bundle costs $5,000 and gives owners unlimited access to the features for 36 months, which could be an excellent deal for the duration, assuming buyers use all the features. So, is the 3-year bundle worth the price of a used 2007 Toyota Camry? Let's break down the cost:
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Tesla's Struggle To Sell FSD
Tesla has been struggling to sell its Full Self-Driving software for months. After claiming that the feature would help make its cars an appreciating asset and raising the price of FSD to as high as $15,000, the used value of Tesla vehicles plummeted and FSD's price was nearly cut in half in just two years. Now, the automaker is looking to increase the adoption rate of its software, and this bundle could be the way.
FSD alone would be $99 per month or $3,564 over the 36-month bundle period. Premium connectivity costs $9.99 per month. That brings us up to $3,924. The remaining $1,076 accounts for the unlimited Supercharging.
Supercharging is a bit harder to gauge the value of since it's so variable-dependent. For example, the stored energy in a battery won't translate into the same range for every car—this depends on the vehicle efficiency and driving habits of the owner. For the sake of things, we'll use EPA's figures of a brand new 2024 Model S. The EPA rates the Model S LR at 402 miles of range with its 100-kilowatt-hour battery.
The actual cost of a Supercharger varies vastly by location. LeafScore estimates between $0.25 and $0.35 per kWh, however, my local Supercharger costs $0.36/kWh and several locations in surrounding states were priced either similarly or as high as $0.44/kWh. Let's call it $0.30/kWh to average out LeafScore's figures. This means a full charge costs $30.
Assuming the car gets the EPA's rated mileage, it costs a 2024 Model S Long Range about $0.075 per mile to travel 402 miles when charged completely by a Tesla Supercharger. This allows the owner to accumulate 14,346 "Supercharging miles" as part of the bundle.
The average vehicle in the U.S. travels 13,500 miles per year, according to the U.S. Department of Transportation's Federal Highway Administration (FHWA). Assuming that the Model S driver does precisely that and charges exclusively via Supercharger, they will have traveled 40,500 miles at the end of the 36 months. This equates to $3,022, or a value of $1,946 above the $5,000 paid for the bundle.
It's unclear if Tesla owners can renew the bundle after the first 36 months. If not, it does give Tesla the added benefit that owners probably won't want to give up FSD after using it for 3 years, so it may increase its adoption rate of the software. After all, the automaker has been having issues selling its FSD software. Tesla has dropped the price from its peak cost of $15,000 in 2022 to $8,000 and now even has a $99 per month subscription.
The automaker is also wrestling with weak sales of the aging Model S and Model X platforms. Other marques have started to offer some rather compelling competitors, and would-be buyers have been turned off by the company CEO's recent political interests. But you can't deny a good deal, and if owners only plan to keep the car for three years and charge exclusively via Supercharger, then this might just be what they're looking for.
