Six-figure cut on cheapest version.
Tesla lowers the price of the cheapest Model Y version by a full NOK 120,000, from NOK 519,990 to a new price of NOK 399,990, a price cut of around 23 percent. Admittedly, this is before weight tax, scrap deposit and Tesla’s “document fee” (in practice shipping and delivery), which amount to around NOK 18,000 and just over NOK 14,000 respectively.
455 kilometer range
With winter wheels, weight tax and document tax, we are therefore talking just over NOK 450,000 when delivered, i.e. well below the VAT limit of NOK 500,000. From what we can see, no changes have been made to the standard equipment at Tesla at this time.
In a message from Tesla, they themselves point to “continuous product improvement” and that cost growth has normalized as reasons for the cuts.
The most affordable Model Y variant has rear-wheel drive and should have a battery pack of around 65 kilowatt hours. The WLTP range is stated at 455 kilometers with 19-inch rims and 430 kilometers with 20-inch rims.
Of the competitors, only models with the largest available battery are sold at both Volkswagen, Skoda, Hyundai and Kia these days, which mostly means around 77 kilowatt-hours of battery. An ID.4 Pro with a WLTP range of 524 kilometers starts for comparison at NOK 482,600 including weight tax and delivery these days, a Skoda Enyaq IV80 at 556,600 including VAT, weight tax and delivery.
The Hyundai Ioniq 5, on the other hand, starts at NOK 524,900, including VAT, weight tax and delivery.
Cut across the board
The other Tesla models are also sharply cut in price. Model Y Long Range is reduced from NOK 559,900 to NOK 469,990, Model Y Performance from NOK 599,990 to NOK 544,990. The most affordable Model 3 with rear-wheel drive is reduced from NOK 409,900 to NOK 369,900, which in practice is a reversal of Tesla’s previous price increase, which was done in two steps a few days apart in March last year.
However, NOK 369,990 before weight tax is still more expensive than the model was at its most affordable. It cost NOK 349,990 from April 2021 to March 2022, after a price drop of NOK 50,000 at the time. In addition, the prices of the other two Model 3 models are reduced somewhat, but here the price cuts are far from as significant as for Model Y. Model 3 Long Range drops from NOK 494,990 to NOK 459,990 and Model 3 Performance from NOK 534,990 to NOK 524,990 – again before VAT and weight tax.
No changes appear to have occurred on the Model S and Model X.
This is how Model 3 prices have varied in recent years:
Tesla also cut prices in China recently, but there it was the Long Range version of the Model Y that got the biggest cut, with just over 13 percent. Both in Europe, China and the USA, Tesla operates with partly very short delivery times – mostly a few weeks – which some interpret as if Tesla’s order books are starting to slow down.
Set a record
Model Y broke the record for the most registered car models in a calendar year ever last year, with a total of 17,356 cars. So far, the rear-wheel drive model has barely existed in Norway. Tesla opened for orders in August, and at the time estimated delivery in January-February this year. These were to be built in Shanghai in China, not at the factory in Berlin.
Tesla also confirms that those who may be waiting for a car will now be moved to the new prices. Those who took delivery before the New Year are apparently not as lucky, but they naturally avoided both weight duty and any VAT.