Tesla Motors Inc (TSLA) Second Hand Model S Selling At Premium In Norway

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Last Month, Tesla Motors Inc (NASDAQ:TSLA) became the top-selling car in Norway, where drivers are paying a premium to own a second-hand Model S to escape from waiting for the new car for almost five months, says a report from The Globe And Mail, citing a dealer.Tesla Motors Inc (TSLA) Second Hand Model S Selling At Premium In Norway

In Norway, drivers are ready to pay even $20,000 extra to get a new Model S from existing owners.

Tesla replaces Volkswagen for the top spot

Tesla bagged a market share of 5.1 percent in Norway and took the top spot, sending the Volkswagen Golf to second place with 4.6 percent of the market, according to the recent official figures. The Model S claimed the title of the best seller in the United States, riding high on features like a max speed of 125 miles per hour, 0-60 miles in 5.4 seconds, and a range of around 300 miles, which is far better than other electric cars.

Norway has been a hot spot for electric cars due to liberal subsidies, free parking, government-provided re-charging stations, the right to use express lanes on highways and being free from tolls.

Tenfjord said that, in Norway, Tesla Motors Inc (NASDAQ:TSLA) is a value for money as it is a spacious car apart from being environmentally friendly.

Huge demand for Model S

Head of Tesla’s dealership in Bergen, Norway’s second largest city, Joar Tenfjord said, “There has been an enormous demand for this car, and it doesn’t seem to stop. We have a lot of customers on the waiting list right now.”

A brand new Tesla Model S is priced at $110,000-$117,000 in Norway, where the car market is very expensive. The cost is $70,000 more than that in the United States, but those owners who want to sell their car can get $130,000 for it, according to Tenfjord.

Norway’s top classified website has only 12 new Model S cars at present with a price tag of $130,000. Tenfjord added that some Tesla owners have drawn good profit as the demand is extreme.

Anders Langset, financial consultant and a second hand Tesla Motors Inc (NASDAQ:TSLA) owner, said that a regular car with similar performance and engine size would have been around 2 million crowns, which is $330,000, as the Norway government puts heavy taxes on gas engines.

Langset told Reuters that he would have gotten a new car for less than what he paid for a second-hand Model S, but he will get his money back along with some profit on selling it today.

The price of a BMW Series 5 is in the range of $100,000-$115,000 in Norway, which is less than the Model S, but the internal combustion engine of BMW is less powerful than that of Tesla.

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