Tesla's (TSLA) Model S is on Fire...in This Key European Market
Reuters pointed out Tuesday that dealers in Norway had Tesla's Model S as the best-selling car for September. While the Model S runs about $110,000 to $117,000 in Norway (which has one of the highest costs-of-living in the world), buyers were said to pay upwards of $130,000 for a used vehicle instead of having to wait five months for delivery.
Total market share for Tesla in Norway -- which has a population around 5 million -- is now at 5.1 percent.
Norway my be an outlier here given its generous subsidies for electric vehicles; along with a tax break, EV owners are allowed free parking, government-provided electric charging stations, exemptions from tolls, and the ability to use express lanes on highways.
At the end of August, Tesla said it would bring its Supercharger Network to Europe via Norway first, showing that the company is in tune with the popularity of EVs in the country and working to strike while (and where) the iron is hot.
Shares of Tesla are indicated higher Tuesday.