The car market in Norway is becoming increasingly unclear.
On the same day that very poor new car sales figures were presented in Norway, Hyundai announced that it had reduced the financing rate to 0.01 per cent on its new Kona.
Quietly raise the price
Tesla, on the other hand, chose to go in the opposite direction: the company quietly increased the price of its cheapest model before the weekend.
The price of the Model Y in the standard version (RWD) has increased by NOK 15,000, which is the second upward price adjustment since the company reduced the price in mid-January. The starting price including winter wheels is now NOK 479,930.
No price adjustments have been made for other models.
The strongest financial card has also changed since the beginning of the year:
The interest rate campaign has completely ended on the cheapest model, while the interest rate on four-wheel drive cars has doubled compared to what was announced in January (0.99 versus 1.99 per cent).
Read also: The total war on cars: – Things can go well – or they can be very expensive
30 percent more expensive per month
The result of these changes becomes very important for new buyers:
- In January and February, you can purchase the standard model with full financing including winter tires at a cost (down payment + interest) of NOK 4,912 per month.
- Now, according to Tesla's website, the monthly price is NOK 6,383 per month with the same assumptions.
- There is a 30 percent increase in cost
When Nettavisen tested the rear-drive model during winter driving earlier this year, we gave it a 6 — thanks in large part to the price. Now it has an almost identical monthly cost to the all-wheel drive version, which also has a longer range.
Tesla does not want to comment on price adjustments, but it is clear that the krone exchange rate has weakened by a few percent since the new year.
– Not always what he deserves
Bilforlaget editor Atle Falsch-Tovrud says Tesla runs what's called “dynamic pricing.”
-Tesla gets a lot of advertising and thus “free” marketing when it lowers prices. Not always equally deserving. If we ignore the big price shock that occurred on January 13 last year, we will find that many of Tesla's price adjustments have risen as much as they have fallen since then, he told Netavicin.
– Elon Musk has stated that 2024 will be a break in aggressive long-term growth plans. So it is not surprising that there were no significant price cuts this year. He points out that there is constant dynamic pricing up and down in different markets.
He says both customers and the industry are now struggling a bit to get an overview.
– Last year, there was a jungle of offers for the consumer to decide on. He points out that a car model that had performed poorly, the Honda e:ny1, was suddenly selling like hotcakes when prices fell by NOK 109,000.
But he also warns of one symptom:
– But when Fisker – a car company on the verge of bankruptcy – tries to tempt you with a discount of NOK 200,000, customers will probably think twice or thrice. While Saab is still running on Norwegian roads long after the car manufacturer has retired, the situation is different for today's cars. If software updates in new cars stopped today – or were not fully developed – the situation is very different.
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