EV Dominate Norway's New Car Market In 2024

(MENAFN- IANS) Oslo, Jan 2 (IANS) Nine out of 10 new passenger cars sold in Norway in 2024 were electric, marking another milestone in the country's transition toward zero-emission vehicles.

According to statistics released by the Norwegian Road Federation (OFV) on Thursday, electric vehicles accounted for 88.9 per cent of new car sales, a significant increase from 82.4 per cent in 2023.

Norway saw a total of 128,691 new passenger car registrations in 2024, up 1.4 per cent from the previous year. Of these, 114,400 were electric cars, bringing the nation closer to its ambitious 2025 goal of 100 per cent zero-emission vehicle sales.

"While we have not yet achieved the 2025 target, no other country comes close to Norway's high share of electric vehicles," said Oyvind Solberg Thorsen, Director of OFV, at a press conference.

"The sharp increase in electric car sales demonstrates the effectiveness of the incentives offered, but achieving the final 10 percent will require maintaining and possibly enhancing these measures," he added.

The 2024 market was dominated by well-known brands, with Tesla leading at 18.9 per cent market share, followed by Volkswagen and Toyota, Volvo, and BMW, Xinhua news agency reported.

Chinese electric car brands made significant inroads. Brands such as MG, BYD, Polestar, and XPeng have seen notable growth, and entered the top 15 best-selling brands.

Norway's push for zero-emission vehicles dates back to 2016, when the government set the ambitious goal of ending sales of fossil-fueled passenger cars by 2025. A series of incentives, including tax exemptions, reduced tolls, free parking, and subsidized charging, have been instrumental in making Norway a global leader in electric vehicle adoption.

In September 2024, OFV reported that Norway became the first country where electric cars outnumber fossil-fueled vehicles on the road.

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