While sales of electric cars in Europe have shown a slowdown in recent months, in Norway they continue to grow at a strong pace, far exceeding those of internal combustion vehicles. In August 2023, Norway set a new world record: the 94.3% of registered cars were electric. An exceptional result, obtained in a market that was substantially stable compared to the previous year, which contrasts sharply with the European average, where the share of electric cars stands at just above 12%.
Electric car sales success in Norway
Out of a total of 11,114 new cars sold in Norway, August 2024 10,480 were electric. Also considering the 161 plug-in cars, the share of rechargeable cars has reached 95.7% of the total.
In the first 8 months of 2024 (January-August), the share of electric cars (BEV) in Norway is87%. Most of the best-selling models cost less than 600,000 crowns (approximately 51,150 euros).
Best-selling electric cars in Norway
In first place among the best-selling models is the Tesla Model Ywith 19% of new registrations, followed by Volvo EX30 with 8.4% and from Skoda Enyaq. The ranking of the best-selling electric models in Norway also includes the Toyota bZ4Xwhich enjoys a fair amount of popularity.
| POS | BRAND | MODEL | IMM. | % |
|---|---|---|---|---|
| 1 | Tesla | Model Y | 2.107 | 19.0% |
| 2 | Volvo | EX30 | 932 | 8.4% |
| 3 | Skoda | Enyaq | 720 | 6.5% |
| 4 | Volkswagen | ID.4 | 584 | 5.3% |
| 5 | Toyota | bZ4X | 526 | 4.7% |
| 6 | Audi | Q4 e-tron | 369 | 3.3% |
| 7 | Tesla | Model 3 | 367 | 3.3% |
| 8 | Volkswagen | ID.3 | 344 | 3.1% |
| 9 | BMW | i4 | 334 | 3.0% |
| 10 | Nissan | Ariya | 307 | 2.8% |
Among the least sold models, however, there are internal combustion engines, with only 45 registrations in July. The few cars purchased by Norwegians include: Suzuki Swift, Volvo XC90, Maserati, Aston Martin, Mazda CX-30, Suzuki Ignis, and Suzuki Vitara.
The Norwegian car market closed last year with a total of 152,374 sales (-24.3% compared to 2022).
Why are so many electric cars sold in Norway?
Norway clearly stands out in Europe for the success of electric car sales, surpassing markets such as Sweden, Denmark, Finland and Iceland, and distancing itself even further from France, Germany and Italy. Norway’s success is due to a combination of favorable factors, especially cheapconfirming that the spread of electric cars is only possible with a massive state intervention.
It must also be admitted that, in addition to the benefits, the cost of electricity in Norway is also among the lowest in Europe, thanks to hydroelectric production, Norway enjoys one of the lowest prices in Europe. Below is a table with average final prices of the cost of electricity in different countries.
| Nation | €/kWh |
|---|---|
| Norway | 0.03 |
| Sweden | 0.05 |
| Netherlands | 0.13 |
| France | 0.171 |
| Italy (PUN) | 0.234 |
| Spain | 0.228 |
| Germany | 0.298 |
THE’hydroelectric is the primary source of electricity in Norway. Thanks to its numerous waterfalls and rivers, the country has exploited its hydroelectric potential to the full, making it virtually independent of fossil fuels for electricity generation.
It may seem like a paradox, but Norway is also one of the largest producers of petrolium in the world (a factor that allowed the country to go from poor to rich), manages to channel the revenues from the sale of crude oil towards supporting electric cars. Just think that 24% of its GDP It is derived from oil exports from the North Sea. Despite being a world leader in renewable energy, particularly hydroelectric, the oil sector has played a crucial role in the country’s economic development.
Electric car concessions Norway
There Norway began promoting electric vehicles in the 1990s to support local startups Thinka manufacturer of electric vehicles. Until 2022, the government has introduced numerous tax breaks and incentivesincluding a complete tax exemption for electric cars, one of the first and most significant sales incentives. In addition, those who purchased an electric car benefited from Parking is almost always freereduced taxes for company cars, reduced or free motorway tollsand the possibility of riding in preferential lanes with a passenger.
However, as of 2022, some of these concessions have been removed to reduce costs for the Norwegian state and because, given the widespread use of electric cars, they were no longer necessary.
Among the new measures introduced are the weight tax for electric cars, the toll for driving in central Oslo and the reduction of free parking.
These policies are possible thanks to the relatively small size of Norwaywhich has little more than 5 million inhabitantsconcentrated mainly in the Oslo area and in the cities of Bergen, Trondheim and Tromsø. Its surface area is comparable to that of a large Italian region such as Lombardywhich has over 10 million inhabitants, double the population of Norway. Therefore, such measures would be difficult to replicate in larger and more densely populated countries.
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