Tesla quietly raises Model Y prices amid uncertainty in Norway’s car market

The car market in Norway is becoming increasingly unclear.

On the same day that catastrophically poor figures for new car sales in Norway were presented, Hyundai announced that it had dropped the price of financing down to 0.01 per cent on its new Kona.

Raised the price quietly

Tesla, on the other hand, has chosen to go the opposite way: The company quietly increased the price of its cheapest model before the weekend.

The price of Model Y in the standard edition (RWD) increased by NOK 15,000, the second upward adjustment of the price since the company cut the price in mid-January. The starting price including winter wheels is now NOK 479,930.

No adjustments have been made to the price of the other models.

The strongest financial card has also changed since the start of the year:

The interest rate campaign is completely gone on the cheapest model, while the cars with four-wheel drive have had their interest rate doubled compared to what was announced in January (0.99 vs. 1.99 per cent).

Read also: Full campaign war on cars: – It can go well – or be very expensive

30 percent more expensive per month

The consequence of these changes becomes quite significant for new buyers:

• In January and February, you could buy the standard model fully financed including winter tires at a cost (down payment + interest) of NOK 4,912 a month
• Now, according to Tesla’s website, the monthly price is NOK 6,383 a month with the same assumptions
• There is a cost increase of 30 percent

When Nettavisen tested the model with rear-wheel drive in winter driving earlier this year, we gave it a roll of the dice 6 – thanks in large part to the price. Now it has an almost identical monthly cost to the four-wheel drive version, which also has a longer range.

Tesla does not want to comment on its price adjustments, but it is clear that the krone exchange rate has weakened by a few percent since the New Year.

– Not always as deserved

Editor Atle Falch Toverud in Bilforlaget says that Tesla operates what is called “dynamic pricing”

– Tesla gets a lot of publicity and therefore “free” marketing when they lower the prices. It is not always equally deserved. If we disregard the big price shock on 13 January last year, several of Tesla’s price adjustments have gone up as much as down since then, he tells Nettavisen.

– Elon Musk has stated that 2024 will be a kind of break year in their long-term aggressive growth plans. It is therefore not surprising that there have been no major price reductions this year. But there is constantly dynamic pricing up and down around different markets, he points out.

He says that both the customers and the industry are now struggling a bit to get an overview.

– In the past year, there has been a jungle of offers that the consumer has to decide on. A car model that has done poorly, the Honda e:ny1, suddenly sells like hot cakes when prices are dumped by NOK 109,000, he points out.

But he also warns against one offer:

– But when Fisker – a car brand that is on the brink of bankruptcy – tries to tempt you with a NOK 200,000 discount, customers should probably think twice or thrice. While a Saab still runs on Norwegian roads long after the car manufacturer retired, the situation is different for today’s cars. If software updates in today’s new cars stop – or indeed – are not developed completely, the situation is completely different.

2024-04-08 20:21:05
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