This summer there have been cheap sales on several popular electric car models. Among other things, Skoda has announced a price cut of NOK 175,000 on the popular Enyaq model. It all started with that Tesla cut prices at the start of the year, writes The online newspaper.
– Everyone thought that new cars would become more expensive in 2023 with weight tax, electric car VAT and a weak Norwegian krone, but then many new cars have become cheaper, says BilNytt.no editor Atle Falch Tuverud to Nettavisen, and explains:
– It is connected to the fact that the production of new cars eventually exceeded demand over large parts of the world after several years of lagging behind during the corona pandemic.
He further explains that in Norway in particular there has been overselling and overimporting for several years, compared to what is normal.
– During the pandemic, many people were on a waiting list for a new car, and no new cars that were in demand were sold at a discount. The picture changed last autumn when the market became saturated, in what was expected to be a last push before the electric car VAT came.
Now you can get it soon for under NOK 300,000
A cold shower
Tuverud says that the car industry was surprised when Tesla cut prices drastically all over the world due to increased production capacity.
– In the new year, the car industry got a real cold shower. This has made the competitive situation for new cars much tougher. And this is connected to an electric car race and a price war in the world’s largest electric car market, China.
He further explains that this year there have been many unsold and pre-registered cars available at Norway’s largest car port, the port of Drammen.
– The players in the car industry have to lighten their stocks and improve their liquidity situation.
Export of used cars to the weather: – A development without historical parallel
Unusual discounts
– It is difficult to predict anything about further developments, but some of the discounts that are on some electric cars now are unusual. There is no doubt that there are some very good offers out there now, he says.
Tuverud says car buyers tend to run in packs:
– It can be thought that it is smart to go against the grain and buy a car when few others are doing it and there are good offers, but I am not a consumer adviser. I primarily follow the industry closely.
He points out that the advantage the car industry has is that traffic is maintained, that leasing agreements expire and the need for the car is there.
– It will probably take some time before we see the new car volume we had in 2021 and 2022, which were two record years for the number of new passenger cars in Norway.
Massive price cut for Norway’s most popular electric car: – It’s a tough market now
Today’s level the new normal
Ståle Frydenlund is senior advisor and test manager at the Norwegian Electric Vehicle Association. He tells Nettavisen that his prediction is that the current price level is about to become the new normal.
– At least as long as interest rates continue to rise, and if mortgage interest rates pass five percent next year. This probably means that fewer people will be able to afford to buy a new car, and if they do buy, price will be a decisive factor.
He says that again explains why there are mostly “reasonably priced cars” among the 20 best-selling cars registered this year.
– At the end of July, there were actually 3.6 per cent more new cars registered for the first time than last year.
He says that of the roughly 61,000 registered new cars, a quarter are Tesla Model Ys.
– And it was Tesla who started the price adjustments.
2023-08-06 17:29:27
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