EV Tesla Model 3 vs IM5Which is cheaper to run?
Over 5 years the Tesla Model 3 RWD works out about $8,706 cheaper to own than the IM5 Premium, counting price, charging, servicing and tyres. Charging mostly at home in NSW and driving 250 km a week costs about $12.94 a week for the Tesla Model 3 RWD and $14.35 for the IM5 Premium. The Tesla Model 3 RWD goes further on a charge: 520 km claimed versus 490 km.
Side by side
Comparing the Tesla Model 3 RWD and IM5 Premium. Better figure in green. Charging assumes 250 km a week, 90% at home.
| Tesla Model 3 RWD | IM5 Premium | |
|---|---|---|
| Price | $54,900+ on-roads | $60,990+ on-roads |
| Claimed range | 520 km | 490 km |
| Battery | 60 kWh | 71 kWh |
| Energy use | 13.8 kWh/100 km | 15.3 kWh/100 km |
| Length | 4.72 m | 4.93 m |
| Charging per week (NSW) | $12.94 | $14.35 |
| Servicing per year | $0 | $450 |
| Tyres per year | $607 | $607 |
| Home charger (one-off) | $2,000 | $2,000 |
| Full charge at home | 9 hours | 10 hours |
| Max fast charge | 175 kW | 153 kW |
| Warranty | 4 yrs / 80,000 km | 7 yrs / unlimited km |
| 5-year cost to own | $67,298 | $76,004 |
Cost to own = price (plus about $4,000 on-road costs where the price is before on-roads) + a home wallbox for EVs (about $2,000, one-off) + charging or fuel + scheduled servicing + tyres. It leaves out insurance, registration and resale value, which vary too much by person and car to estimate fairly. Resale value is the biggest unknown, especially for newer brands.
Weekly charging cost by state
250 km a week, mostly charged at home, on each state's 2026–27 default electricity rate.
| State | Tesla Model 3 | IM5 |
|---|---|---|
| NSW | $12.94 | $14.35 |
| Victoria | $11.23 | $12.45 |
| Queensland | $11.11 | $12.32 |
| South Australia | $15.42 | $17.10 |
| WA | $12.75 | $14.14 |
| Tasmania | $10.12 | $11.21 |
| ACT | $13.90 | $15.41 |
| NT | $11.76 | $13.04 |
Common questions
Is the Tesla Model 3 or IM5 cheaper to own?
The Tesla Model 3 RWD is about $8,706 cheaper to own over 5 years. This counts the price, charging mostly at home, scheduled servicing and tyres, driving 250 km a week in NSW.
Which is cheaper to charge, the Tesla Model 3 or IM5?
In NSW, charging mostly at home, the Tesla Model 3 RWD costs about $12.94 a week and the IM5 Premium about $14.35 for 250 km of driving.
Which has more range, the Tesla Model 3 or IM5?
The Tesla Model 3 RWD has a claimed range of 520 km, versus 490 km. Expect less at highway speeds.
Which is bigger, the Tesla Model 3 or IM5?
The Tesla Model 3 is 4.72 m long and the IM5 is 4.93 m long.
More comparisons
Tesla Model 3
How we work it out
Weekly cost is the car's claimed energy use (kWh per 100 km) × your distance × your electricity price. "Per week" figures on this site assume 250 km a week with 90% of charging at home. Petrol comparisons use the fuel use and price you choose. Prices are list prices at October 2026 and change often; check with the dealer.
- Electricity: 2026–27 default or regulated flat rates from the AER Default Market Offer (NSW, SE QLD, SA), Victorian Default Offer, Aurora Energy (TAS), Jacana Energy (NT), Synergy (WA) and ActewAGL (ACT).
- Public charging: Sydney survey of Chargefox, Evie, NRMA, Tesla and BP Pulse prices, July 2026.
- Car specs and prices: manufacturer figures as published by CarExpert, AEVA EV fact sheets, Drive and EV Central's car guide. Some prices are the publisher's estimates; check with a dealer.
- Servicing: published capped-price schedules (BYD Sealion 7, BYD Seal, Geely EX5, Jaecoo J5 EV, Kia EV5, Zeekr 7X). Tesla has no fixed service schedule and CarExpert's EV servicing comparison. Where a model's pricing isn't published yet we use the brand's nearest model and mark it as an estimate.
- Tyres: RACV puts EV tyre life at 20,000–40,000 km; replacement set prices from Gridly's 2026 EV tyre cost guide.
- Petrol and diesel: ACCC average retail unleaded and diesel prices in each capital city, 21 October 2026 (ACCC weekly fuel price monitoring).
- Plug-in hybrids: prices, battery sizes and claimed electric range from CarExpert, Cars24, Zecar and The Beep. Real-world electric range is taken as 80% of the claim; plug-ins charged at home each night are assumed to do up to 85% of driving on electricity. Petrol use with a flat battery is our estimate from reviews where makers don't publish one.
- Diesel utes and SUVs: claimed combined fuel use and prices from CarExpert, 4X4 Australia and CarSauce. The HiLux automatic, Prado and Mazda CX-60 D50e are 48-volt mild-hybrid diesels; their small battery assists the engine but can't drive the car on its own.
- Petrol mild hybrids (Suzuki Swift Hybrid, Mazda CX-60 G40e): claimed fuel use and prices from CarExpert.
- Hybrids: claimed fuel use, prices and capped-price servicing as published by CarExpert and CarsGuide. Petrol and hybrid tyres usually last 40,000–60,000 km (RACV); we use 50,000 km.
- Home chargers: typically $1,000–$3,000 installed, about $2,000 typical (What's the Damage, October 2026).
- Novated lease rules: PwC summary of the May 2026 FBT changes.