In the used market, the most expensive electric cars are now shelf warmers. Now many people want cheaper cars, and preferably one that runs on petrol or diesel. This is shown by figures news has obtained from finn.no. Since last autumn, the market for used cars has completely changed. The electric cars that last year were sold a few days after the advertisement was published, now take a month and a half to sell. For fossil cars, the trend is the opposite. Used car dealer Espen Regevik in Mandal confirms the figures. – I have daily contact with people with million-dollar electric cars from Porsche and Mercedes, who want to trade for a cheaper car. They want petrol – or diesel cars, or cheaper electric cars, says Regevik. Animal age affects new car sales. From 1 July, there were also new rules in the lending regulations which mean that car loans must be taken into account when the banks calculate how much people can borrow. – Many people want to get rid of their million-dollar electric cars, says car dealer Espen Regevik in Mandal. Photo: Privat In practice, this means that many people cannot borrow as much for a car as before. After two years where people have stood in long queues to buy electric cars, interest is now far less. At Kaia in Drammen and at Lierstranda there are 13,000 new cars, many without buyers. There is now a large offer of cars in the used market as well. In both 2021 and 2022, more new cars were sold than at any time since 1986, the year when Norway changed its economic policy after many years of high inflation. But this year, new car sales have almost slowed down, especially for the more expensive cars. The industry predicts a decline of 20 per cent this year. Large discounts in the new car market cause used electric cars to fall in value Tesla sent a shock wave into the new car market in January this year when they reduced the price of the Model Y and Model 3 by around NOK 100,000. The price cut also affects the price of used electric cars. They have fallen since last autumn, figures from finn.no show. The price drop can both be due to cars being sold cheaper, as well as people buying cheaper cars to a greater extent than last year. Because also in the used market, electric car sales are now slower, according to an analysis news obtained from finn.no last week (see tables). The figures have previously been discussed at the industry website Bilnytt.no and at motor.no. – After two years of overselling cars, cars for which previously there was a long wait are now being sold with big discounts. This means that there are too many electric cars on offer compared to buyers, says Atle Tuverud, editor-in-chief of the industry website Bilnytt. Contrast with the Storting’s electric car target The Storting wants all new passenger cars to run on electricity from 2025, but in the used market it is now petrol and diesel cars that people prefer. – What has happened is that petrol and diesel cars have changed places with electric cars. They are the ones that are now sold the fastest, says Dahlgren. To an even greater extent than previously, people are now buying relatively cheaper cars. – Car prices are increasing in Norway now, on the attractive models that are priced up to NOK 300,000-400,000. These are used petrol and diesel cars, says Regevik.
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Used car market turned upside down – fossil fuel cars most in demand – news Norway – Overview of news from different parts of the country
