This means that the Model Y will now cost around NOK 450,000. So well below the VAT limit, writes Tek.no. Several other models also get a reduced price. But why? Automotive expert and investment director Robert Næss at Nordea believes it is about high targets and slow sales. – The company has noticed that sales have slowed down. They have had quite a few cars in stock, which is very surprising. People used to queue up to buy these cars. The company aims to sell 40 percent more electric cars this year compared to last year. At the same time, interest rates are rising in the US and throughout Europe. – Nevertheless, it is surprising that they have cut the prices so dramatically, he says. Investment director Robert Næss at Nordea says that many used car sellers will lose money from the price drop. He believes that it is idiotic to buy a used Tesla right now. Photo: Håkon Mosvold Larsen / NTB Buying a used car? Watch out He believes the price collapse will primarily affect the second-hand market. Which he thinks will collapse. – Those who will notice this immediately are those who will sell used electric cars. There are over 500 used Y models on the market. Several are priced higher than the new electric cars, according to him. This means that many car owners out there can lose NOK 100,000. But for those who don’t have a car, this is good news. They get a cheaper car and avoid VAT. Now he urges people who are going to buy a used car to be careful. – Right now it is idiotic to buy a used car. What was a cheap used car yesterday is a far too expensive used car today. But prices will go down, he says. Won’t last forever Senior communications advisor Nils Sødal in NAF calls the price drop “formidable”. But the company has done it before. Therefore, he believes that the fall is short-lived, that prices will rise again. – This will not last forever. There is a small opening now, and you should hurry if you want to make a good purchase, he says. He is aware that the drop in prices has consequences he does not like. – Those who have bought a Tesla and are going to sell it again will get much less for it. It’s not quite good. I think there are many people who are upset now, says Sødal. The Tesla Model Y was the best-selling car in Norway last year. Now the price for a new car has been reduced by NOK 120,000. Photo: LILLIAN SUWANRUMPHA / AFP End of VAT exemption From 1 January, new taxes were introduced for new sales of electric cars. The VAT exemption for electric cars costing more than NOK 500,000 was then removed. The government also introduced a new weight tax for electric cars. It must be calculated at NOK 12.5 per kilogram of the car’s net weight over 500 kilograms. This applies to all new cars. Removal of VAT exemption and new weight tax for electric cars in 2023 The Storting has decided that the proportion of zero-emission vehicles in new car sales should be 100 per cent by 2025. In the state budget for 2023, the government will, among other things: Introduce VAT on purchase amounts over NOK 500,000 for electric cars Introduce a new weight component that will apply for all passenger cars Introduce strictures in the one-off tax for hybrid and fossil-fuel cars, in order to achieve the goal that all new passenger cars must be zero-emission cars by 2025. Cars that cost less than 500,000 will be fully exempt from VAT, initially until 2024. The new weight tax must be calculated using NOK 12.5 per kilogram of the car’s net weight over 500 kilograms for all new cars. The new weight tax is in addition to the existing weight tax, which is currently imposed on all new car types except electric cars. news informs that Robert Næss is also the main owner of the company Ekocar, which imports electric cars into Norway.
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Cuts the price of Tesla – thinks it could lead to a collapse in the used car market – news Vestland
