A new study by the International Council on Clean Transportation has found that the Tesla Model 3 has a life-cycle ownership cost equivalent to the cheapest car in America. While the purchase price of the Model 3 is higher than the Toyota Corolla, the study found that over five years, the Model 3's lower fuel and maintenance costs, as well as its higher resale value, make it a more cost-effective option.

The study is significant because it addresses one of the main barriers to widespread adoption of electric vehicles: their perceived higher cost. Electric vehicles are often seen as an expensive luxury item, out of reach for many consumers. However, the study suggests that electric cars are becoming more accessible and affordable, and that the Model 3 provides a sustainable and cost-effective option for those looking to purchase a new car.

The findings have been welcomed by environmental campaigners, who say that the study provides further evidence of the benefits of electric cars for the environment and for consumers. The Model 3 is one of Tesla's most popular models and has been praised for its performance and range.

As governments around the world set ambitious targets for reducing carbon emissions, the study suggests that electric cars will play an increasingly important role in achieving these goals. The Model 3's affordability and sustainability make it an attractive option for consumers who are looking to make a positive impact on the environment while also saving money in the long run.