Norway: Electric cars approaching 80% market share in 2022

In Norway, more than anywhere else, you have to listen harder to hear the cars driving. Electric cars accounted for almost 80% – a new world record – of new passenger car registrations in Norway last year, according to figures presented on Monday by a specialist body.

Driven by the American Tesla, at the top of the ranking of manufacturers with 12.2% of the market share, 138,265 new electric cars were sold in the Scandinavian country last year, or 79.3% of the total sales of private vehicles. Nye, Road Traffic This is stated by the Information Council (FOV) in an announcement. Thus, Norway, which is both a major hydrocarbon producer and a zero-emission car champion, broke its own record set in 2021 (64.5%). In comparison, electric represented 8.6% of new registrations in the EU in the first nine months of 2022.

Tesla takes advantage of that with pleasure

In December alone, all-electric cars reached 82.8% of sales as Norwegian households rushed ahead of a tax change that made their purchases more expensive. Tesla’s Model Y alone accounted for 11.5% of the market, Elon Musk’s group boasts of breaking the sales record since 1969 of the legendary Volkswagen Beetle.

Norway aims for all its new cars to be zero-emissions – electric or hydrogen – from 2025, thanks in particular to ultra-favorable taxation. But as this segment has matured, the authorities have begun to cut away some of the benefits that weigh on public accounts.

Since January 1, the VAT exemption (at a rate of 25%) when purchasing a new electric car is therefore only valid within the limit of a purchase price of 500,000 kroner (approx. 47,500 euros), as amounts above this ceiling are taxable. Today, every fifth car on Norwegian roads is fully electric, another world record.

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