Want to drive home a Tesla Model Y in India? Be ready to earn at least ₹1.2 crore a year and if you’re thinking of a loan, aim even higher.
The real cost of ownership, once you factor in on-road prices, income eligibility, EMIs, and opportunity costs, might surprise even upper-middle-class buyers.
As Tesla’s Model Y hits the Indian market with on-road prices ranging from ₹61 lakh to ₹66.7 lakh, the income and net worth required to own one comfortably are steep. In Delhi, the on-road price is ₹61.06 lakh, while in Mumbai it’s ₹61.07 lakh. Gurugram tops the list at ₹66.76 lakh, reflecting local taxes and charges.
Financial advisors typically recommend that to own a luxury car comfortably, your annual income should be at least twice the car’s cost. For loan eligibility, banks usually require at least three times the price as your annual income. That means:
In Delhi, you’ll need a minimum income of ₹1.22 crore (2×) for prudent ownership or ₹1.83 crore (3×) for loan approval.
In Gurugram, the bar rises to ₹1.33 crore and ₹2 crore respectively.
A full cash purchase would require at least ₹61-67 lakh in liquid net worth, depending on the city.
Assuming a standard 20% down payment (₹12.2-13.4 lakh) and a 5-year car loan at 9% interest, your monthly EMI would range between ₹1.01 lakh and ₹1.11 lakh.
But what if you invested that amount instead?
If you put ₹61 lakh (Delhi price) into major Indian asset classes for 10 years, here’s how much your investment could grow:
- Mutual Funds (18% CAGR): ₹3.19 crore
- Indian Stocks (14% CAGR): ₹2.26 crore
- Gold (12.16% CAGR): ₹1.92 crore
- Real Estate (4.8-10% CAGR): ₹93 lakh to ₹1.31 crore
This stark opportunity cost shows that for many, a Tesla isn’t just a car – it’s a high-stakes financial decision.
Note: Actual returns may vary. All calculations are based on historical averages and do not guarantee future performance. Always consult a financial advisor before making investment decisions.