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Tesla sales boosted consumption – Tesla Motors – Car


Recent numbers of goods and retail consumption in Norway show that the sale of Tesla's new Model 3 contributed solidly to household consumption last month.

While retail sales, as expected, rose 0.6% from February to March, consumption of consumer goods increased by 1.9% over the same period.

More than half of the growth in the consumption of goods in March came from the purchase of cars, which increased by 5.6%, writes Statistics Norway in a message.

"The strong growth in car buying is due in part to record deliveries of Tesla Model 3 in March," writes the SSB.

New record

In March, the Tesla Model 3 set a new record for the number of copies sold for a car model for a month. According to the Information Council for Road Traffic, 5,315 cars of this model were registered this month, and a total of 5,822 Tesla cars were registered.

Overall, the purchase of cars and fuel pulled the consumption of goods by 1 percentage point, statistics show.

The consumption of sports equipment and hobby items also contributed to the increase. Electricity and fuel consumption also rose after a one-month decline.

At the same time, inadequate information to make purchases online from abroad makes it impossible for Statistics Norway to be absolutely sure of how big the actual consumption in Norway is.

Increase in book sales

Store sales have increased substantially since 2016, according to new retail numbers. As of last summer, the trend has been declining slightly but now the trade is showing signs of flattening.

"Groceries and bookstores contributed more to the increase in the seasonally adjusted volume of March," he wrote to SSB.

"Gas stations had a decline in sales volume over the same period and helped contain overall growth," the agency added.

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