I actually think a Model S is fairly "cheap" for us Europeans.
I used to drive a Audi A3 2.0TDI, with all the taxes included this car was EUR 48.000. The monthly taxes were about EUR 90.
The car was from my company, here in Holland we have a tax rule, that you have to add 25% of the car to your yearly income and pay taxes over it. This resulted in a extra tax of EUR 475,00 every month, just for driving the A3.
In total, the Audi A3 (which I had for 3 years) costed me EUR 87240, this is excluding fuel and maintenance.
EV's are free from those taxes, that makes a Model S cheaper for me (when calculating over 3 years) than a Audi A3, when you start comparing it against a Audi A4, Mercedes E-Class or BMW 5-series it's even much cheaper.
I really do hope we can test-drive the Model S this summer, I can't wait!