February 2, 2023

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Tesla lowers the price – believes it could lead to a crash in the used car market – NRK Vestland

This means that the Model Y will now cost around NOK 450,000. So writes well below the VAT limit Tek.no.

Many other models also get a reduced price.

but why?

Automotive expert and investment manager Robert Ness at Nordea believes it’s a matter of high targets and slow sales.

– The company noticed a slowdown in sales. They had quite a few cars in stock, which was very surprising. People used to stand in lines to buy these cars.

The company aims to sell 40 percent more electric cars this year than last year.

At the same time, interest rates are rising in the United States and throughout Europe.

– However, surprisingly, they lowered prices so much, he says.

Nordea investment manager Robert Ness says many used car sellers stand to lose money from lower prices. He thinks it’s stupid to buy a used Tesla right now.

Photo: HÃ¥kon Mosvold Larsen/NTB

Buying a used car? Be careful

He believes that the price collapse will primarily affect the second-hand market. who thinks it will collapse.

– Those who will notice this immediately are those who will sell used electric cars.

There are more than 500 used Model Ys on the market. Many of them are priced higher than new electric cars, he said.

This means that many car owners can lose NOK 100,000.

But for those who do not have a car, this is good news. They get a cheaper car and avoid VAT. He is now urging people who are going to buy a used car to be careful.

– Now it’s stupid to buy a used car. What was an inexpensive used car yesterday is an expensive used car today. But he says prices will come down.

It won’t last forever

Niels Sudal, chief communications adviser at NAF, calls the price drop “enormous”.

But the company has done this before. Therefore, he believes that the decline is short-lived and that prices will rise again.

– This won’t last forever. There’s a small opening now, and you should hurry up if you want to make a good purchase, he says.

He realizes that lower prices have consequences that he doesn’t like.

– Those who bought Tesla and are going to sell it again will get much less than that. It’s not entirely good. “I think there are a lot of people who are upset right now,” Soudal says.

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The Tesla Model Y was the best-selling car in Norway last year. Now the price of the new car has been reduced by NOK 120,000.

Photo: Lillian Swanrumpha/AFP

The end of the VAT exemption

From January 1, a new fee has been imposed on new sales of electric vehicles. Then the VAT exemption for electric cars costing more than NOK 500,000 was removed.

The government has also introduced a new weight tax for electric cars. It must be calculated at NOK 12.5 per kilogram of vehicle curb weight over 500 kilograms. This applies to all new cars.

NRK reports that Robert Ness is also the principal owner of Ekocar, which imports electric cars to Norway.

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