Tesla creates a sensation by breaking a record held since 1969 by the Beetle – Business AM

If Tesla’s stock is in free fall, Elon Musk will be able to reassure himself with his sales in Norway. The Model Y broke the record for the number of copies of the same model sold in a year.

Why is this important?

In recent weeks, Tesla investors have been rather grumpy. They are concerned about the importance given by Elon Musk to Twitter, to the detriment of the car company. If it continues to go well in terms of sales, it is less the case on the stock market. In one year, Tesla shares have fallen by more than 60%.

In the news : the Model Y beats the Beetle in Norway.

  • This Thursday, it emerged that Tesla’s Model Y had broken the record for models sold in a year in the Scandinavian country.
  • It had been owned by Volkswagen Beetle since 1969.

The detail : Tesla offers himself a disc on the gong.

  • In this penultimate week of the year, the Model Y surpassed the record set by the Beetle 53 years ago.
  • For several years, based on figures from the Norwegian administration, a site has compared sales in Norway of the American manufacturer’s electric SUV and those of the German company’s iconic model.
    • In 1969, 16,706 copies of the Beetle were distributed there. A record never equaled since.
  • This Thursday, it appears that 16,745 Model Ys were sold in Norway in 2022.
  • Elon Musk did not fail to react to the news.
    • “Bravo to the Tesla team!! “, he wrote on Twitter, relaying a publication of Tesla.

The context : electric is king in Norway, to the delight of Tesla.

  • In recent years, the country of the Fjords has earned a new nickname: the country of electric cars.
  • As we wrote last week, Norway is the country with the highest proportion of electric cars in the world.
    • This year, nearly 80% of car sales were electric.
    • Result: today, one in five cars driving in Norway is electric.
    • This proportion is doubled in less than three years.
  • A phenomenon linked to the public aid put in place in recent years to encourage the purchase of vehicles of this type.
    • Among the incentives, there is the abolition of the weight tax – in force for vehicles with internal combustion engines – and the exemption from VAT (25%) on the purchase of new electric vehicles.
    • Faced with the explosion in sales and the enormous shortfall for public finances, the authorities decided to reduce the screw. From January 1, 2023, the weight tax will also apply to electric vehicles, while the VAT exemption will only be granted for electric vehicles under 500,000 Norwegian kroner (around 47,750 euros).
      • Currently, on Tesla’s Norwegian site, the Model Y is at 519,990 Norwegian kroner. It remains to be seen whether the company will make the necessary effort to allow Norwegians to continue to benefit from the abolition of VAT next year.

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