Norway achieves record share in EVs market as sales increase
(MENAFN) In August, Norway set a new global record with electric cars capturing 94.3 percent of the new car market, marking a significant milestone in the adoption of zero-emission vehicles. This remarkable achievement is largely driven by the popularity of Tesla’s Model Y, which alone accounted for 18.8 percent of sales, alongside other models such as Hyundai's Kona and Nissan's Leaf. During the month, Norwegians purchased 10,480 new electric vehicles, bringing the total number of electric cars sold in the country to 68,435 for the year.
In contrast, the rest of Europe has seen a slowdown in electric vehicle (EV) sales, hindered by high prices and insufficient charging infrastructure. The rise in hybrid vehicle sales, which combine traditional fossil fuel engines with electric batteries, has been noted as a response to these challenges. Norway, a significant oil and gas producer, has committed to a target of transitioning to 100 percent zero-emission vehicles by 2025, a decade ahead of the European Union's goal. The country’s generous tax incentives have made electric cars more competitively priced, further accelerating their adoption.
Despite Norway's impressive figures, electric cars constituted only 12.1 percent of new car sales across the EU in July, trailing behind gasoline vehicles, which made up 33.4 percent, full hybrids at 32 percent, and diesels at 12.6 percent. According to Oyvind Solberg Thorsen, CEO of the Norwegian Road Federation (OFV), if the current trend continues, Norway is well on its way to achieving its ambitious goal of 100 percent zero-emission vehicles by 2025.
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