May 24, 2022

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Now it's not so cheap anymore

Now it’s not so cheap anymore

Tesla has revised the prices of the best-selling Model 3 several times. In April last year, it attracted a lot of attention when it slashed the starting price of the Model 3 Standard Range Plus by as much as 50,000 crowns. Then it rose from 399,900 to 349,900 crowns.

With that said, the Model 3 ended up within the reach of many buyers. It emerged as a competitive alternative to smaller and cheaper electric cars. And in terms of the range and price, no one can match the car.

Then sales also fell. The Model 3 ended up being the best-selling car in Norway in 2021.

40,000 kroner more expensive

However, you can just forget about that price now. Tesla implemented a strong car price increase. In March, the price increased from 369,900 kroner to 409,000 kroner, which is up to 40,000 kroner.

At the same time, the long-range version of the car went from 449,900 kroner to 449,990 kroner. The Model Y also became more expensive, the long-range version of it went from 534.900 to 549.900 crowns. Here, the price increase is much more modest.

Tesla hasn’t commented on this per se, but Broom auto expert Benny Christensen isn’t particularly surprised they’re raising prices.

Reducing the price of a supercar flop

Both the Model S and X were very expensive cars. With its Model 3, Tesla has entered a whole new category.

Many cars are becoming more expensive

Perhaps this is far from the old rule of supply and demand. Many competitors have long waiting lists and struggle to get enough cars. Tesla seems to be avoiding it so far. Both the Model 3 and the Model Y were what we should be able to describe as an affordable price. It has attracted many customers precisely because of the prices. After that, Tesla will probably consider going there so they can raise it, without having to affect sales too much, says Penny.

– So it is not about the fact that the production of cars is becoming more expensive?

– Maybe only Tesla knows the answer to that. But in general, there is reason to expect the cost of many cars to rise in the future. These were turbulent times even before the war in Ukraine. Now the price of oil has risen sharply and so has the price of many raw materials. Of course, this also affects car manufacturers. Many had to reduce their production. This means that factories are not working optimally. This in turn increases the cost per vehicle produced. In many cases, Penny says, we have to factor in these costs being transferred to car buyers.

Used car: the only thing that helps bring the price down – a lot!

The SUV Tang from China's BYD is almost one of the cars you can get

The SUV Tang from China’s BYD is one of the cars you can almost get “during the day” in Norway right now.

Get a car fast – or wait too long

In Norway, we now see a clear distinction between car brands that can deliver cars quickly – and those with waiting lists of up to a year and a half, and some even longer. This naturally has a strong impact on the competitive situation.

Tesla has always been able to deliver cars quickly. The same applies to many Chinese car brands that have come to Norway in recent years. These also generally provide a lot of cars for the money. Penny concludes that, combined with the short delivery time, is of course a huge advantage as the market looks now.

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