Tesla Taking Norway By Storm
NORWAY Q3 - ROUGH FORECAST
The market total is 23,965 vehicles after 73 calendar days
The portion without Tesla is 19,823 vehicles = 272 vehicles per day
--> it may reach 25,000 vehicles https://t.co/u5TxBtObPb pic.twitter.com/GKWKx6gngQ
— JPR007 (@jpr007) September 12, 2021
Strong Sales In Norway for Tesla
I've been following the Twitter user, JPR007 for many months now, and he's the best at reporting on Tesla sales in Europe, and in this case, Norway, than anyone else I've seen. Since the last few months, Tesla has rapidly increased its sales volume in Norway, and all of this without Giga Berlin being online.
As you can see from the above Tweet, Tesla is at a very high and exponential growth curve in Norway. Some have speculated that this is because the Model Y is now being sold in Norway and that SUV is in much higher demand there than the Tesla Model 3. Since Tesla started deliveries of the Model Y in Europe last month, there has been explosive growth.
I believe we will continue to see this growth trend continue until Giga Berlin is fully ramped AND we have market saturation with the Model Y. This won't be for a year or two at a minimum. I say this because that's how long it will take Giga Berlin to ramp to volume production and electric vehicles are still in the minority of vehicles on the road. There is a lot of growth ahead!
Why Tesla is Valued so Highly
Tesla is valued so highly because of many situations like this that show the company is going to continue to grow sales, deliveries, and beat estimates quarter after quarter.
There are 10 major key catalysts that are going to drive Tesla higher. One of these is the continued growth of the Model Y. Wherever Tesla sells this amazing vehicle, it will be backlogged due to demand for the vehicle.
I would expect that we'll see other European countries see a similar explosion of growth as Giga Berlin comes online and Giga Shanghai continues to export.
10 Key Tesla Catalysts
Beyond the growth in Norway, here's the 10 reasons Tesla is valued so highly and why sales in Norway and other places will continue to explode. This is following The Future Fund's analysis of Tesla.
1. Full Self Driving (FSD) release (Sept. 2021)
2. Biden Admin. $7.5K EV credit (Sept. 2021
3. 3Q Vols/EPS release (Oct. 2021)
4. Berlin/Austin facilities open (Q4, 2021)
5. Investment Grade Credit Rating (Q1&2, 2022)
6. 4680 scale production (Q2, 2022)
7. Cybertruck launch (Q4, 2022)
8. Roadster/Semi launch (2023)
9. Tesla Subcompact—$25K launch (2023)
10. BONUS: Robotaxis are coming sooner than anyone thinks (2023)
The Future Fund maintains a price target of $1,100 for TSLA stock in the next 6 to 12 months.
What do you think of Tesla sales in Norway? Will Tesla continue to grow exponentially or will it slow down? Is Tesla going to take Europe by storm?
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Jeremy Johnson is a Tesla investor and supporter. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Since then, he's become a Tesla bull, covering anything about Tesla he can find, while also dabbling in other electric vehicle companies. Jeremy covers Tesla developments at Torque News. You can follow him on Twitter, Facebook, LinkedIn and Instagram to stay in touch and follow his Tesla news coverage on Torque News.