Tesla's Norway slump set to continue

Updated: Mar 3

Tesla's Norwegian new vehicle monthly registrations collapsed in February, falling by -91.8 per cent over the same month last year, according to official OFV supplied data. The European heavyweight electric car market, saw pure electric registrations (BEVs) reach 5,145 units in February (9,381 year to date) however just 83 of those were Tesla models in February and just 277 during the opening two months of the year.

Tesla models recharging in Norway

As indicated in last month's report, this goes some way to indicating that the UK will likely take Tesla's European priority market role during the first half of this year due to a huge fiscal drop to zero per cent benefit in kind tax for zero emission vehicles (from the current 16 per cent) set to be introduced from April 6, boosting demand for BEV company cars. A UK company car driver already gave a hint about what is likely to happen talking exclusively to this report back in October of last year. The company car driver, recently changed their Toyota Prius hybrid vehicle to an Audi etron explaining that this decision was almost entirely driven by the new fiscal changes. They are happy to pay a 200GBP monthly leasing rate premium for a more premium vehicle – worth twice as much as their outgoing Prius – as the 2,000 GBP annual tax saving is subsidising this premium product.

© 2020 by Matthias Schmidt | Berlin, Germany