Nearly 16,000 Plug-Ins Sold In Nordic Countries For Q3. Tesla Model X Cannibalizing Model S?

NOV 23 2016 BY MARK KANE 9

Plug-in electric car sales in Nordic countries increased to 15,771 registrations for the third quarter according to an Insero report, while the total number of plug-ins on the streets exceeded 145,000.

BMW i3

BMW i3

According to the Insero Quarterly, the recently arrived Tesla Model X positively influenced sales throughout the Nordic countries (967 units in Q3).

However there is an indication of some cannibalization by the Model S, which saw its sales decrease by 39% over the same period.

“In total 967 of the Tesla Model X were sold in the third quarter of 2016 across the Nordic countries, where the Norwegian and Swedish market dominated with massive sales of respectively 601 and 129 cars in September alone. However, the Tesla Model S sales have decreased with 39% indicating cannibalization among Tesla models.”

Whether the Model X really cuts into Model S sales is a question only time will tell, as Tesla’s production timing and batching program (by model and trim) designed to optimize end of quarter results for electric vehicle sales in the region is well known.

This specialized production batching means that the start of Q4 results (for October) yields fairly meaningless numbers that we can’t yet draw any conclusions from, as deliveries once again plummeted into mere rounding anomalies.

For example, Norway still lead the pack in October, but registrations fell all the way back to 84 Model X/39 Model S deliveries.  Ultimately, it will be December that tells us the Model X vs Model S sales story.

In general, Norway represents 75% of all Nordic plug-in sales, but EV adoption in other countries is now accelerating:

“Sweden and Finland also delivered their best quarter ever. Both countries have sold more EVs in 2016 than in 2015 totally. Plug-in hybrids continues to be popular in Sweden and accounts for 77% of the Swedish market.

Finland has more than doubled its sales in the first three quarters of 2016 compared to same period in 2015 with a growth rate of 105%. The Finnish market is also driven by plugin hybrids, which accounted for more than 84% of sales in the third quarter.

Sale in Denmark increased with 154% compared to last quarter
Denmark experienced a stagnation in sales in the first two quarters of 2016, but is now in the third quarter back to a decent level. The sale in the first three quarters has dropped with close to 20% compared to the same period last year, but it is still a significant improvement compared to the second quarter of 2016. Furthermore, Danish politicians have discussed the possibility of introducing a new green car rebate of up to 5360€ for the first 1000 vehicles sold to private customers. Such an initiative is expected to positively affect the sales in Denmark.”

Categories: Sales, Tesla

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9 Comments on "Nearly 16,000 Plug-Ins Sold In Nordic Countries For Q3. Tesla Model X Cannibalizing Model S?"

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One of the reason that Model S sales is dropping here in Sweden is that the price have gone up quite a lot because of the more expensive dollar. A Model S 60 cost for some years ago 630 000 kr in Sweden, now it cost 805 000 kr so the price have rise 28%. If tesla would go back to the old price I’m sure that the orders would rise a lot but that won’t happened if not the Swedish crown go up a lot compere to the dollar.

I don’t know about other countries’ prices but in the US the base Model S price just went up by $2000.

It went up in Sweden to.

Betteridge’s law of headlinesL “Any headline that ends in a question mark can be answered by the word no.”

Bmw i3 is the best selling car overall in Norway now. So far in November over 600 sold . Tesla S 12.

It is pretty much imposible for the X to not canabalize S sales for Tesla but I think it falls into the irrevelevant category as the X costs more and they still get a sale…
A bad canabalization will be when the model 3 and Y do that to the S and X which will also happen but it simply means you are becoming more and more a full line auto manufacture…

Another Euro point of view

“However there is an indication of some cannibalization by the Model S, which saw its sales decrease by 39% over the same period”.

First remark: in such tiny markets I would say a trend is only solid if observed for 2 full quarters.

Second remark: are those Model X’s which order was made by customers in period 2012-2015 and confirmed recently or are most of those delivered now entirely new (2016) orders ?

Another Euro point of view

Did Tesla yet delivered in those countries the Model X backlog of reservations of the past 4 years ?
Furthermore, due to Tesla batch selling habits I would say it takes two full quarters to confirm a trend in such (small) markets (OK, Norway is not a small market for Tesla but the other 2 rather yes).

Another Euro point of view

I always get caught by the fact that comments seem to upload with 30 min. delay thus making me think that something failed and thus writing it again…