Summary
– Plugin EVs took 85.3% share in the June auto market in Norway, down from 90.9% year on year
– BEVs took 80.0% share, down from 82.2% YoY, with the Tesla Model Y as the best selling BEV
– HEV volumes increased substantially, possibly related to new vehicle safety regulations
– New EU vehicle safety regulations have led to the removal of economy cars from the European market
– Despite growth in June auto market volume, overall volume in 2024 H1 is down 8% compared to last year
Article
In June, plugin EVs in Norway took 85.3% share, down from 90.9% YoY, with BEVs holding 80.0% share, down from 82.2% YoY. Despite this, overall auto volume in June was 17,512 units, up 12.5% YoY. The Tesla Model Y was the best selling BEV, followed by the Tesla Model 3. HEV volumes, mostly from Toyota, saw a significant increase compared to a year ago, potentially due to new vehicle safety regulations coming into effect. MG Motor, Polestar, and Volvo brands also saw growth in volume.
New EU Vehicle Safety Regulations have become mandatory for all new vehicle sales in the region, affecting Norway and other EU-adjacent markets. The regulations include automatic safety features like speed limit assistance and emergency braking assist, leading to the discontinuation of vehicles based on older platforms that cannot accommodate these features. The cost of these new safety systems has led to the removal of economy cars from the European market.
In terms of new BEV model debuts, the Polestar 3, a premium large SUV, entered the market with 15 units sold in June. The Tesla Model Y remains the top-selling BEV, followed by the Volvo EX30. Other popular models include the Volkswagen ID.4, MG4, Tesla Model 3, Toyota BZ4x, and Volkswagen ID.3. The overall outlook for the Norwegian auto market remains weak, with volume down 8% compared to the same period last year. Economic indicators also show a decline in output and manufacturing PMI, impacting new car buyers.
Overall, the transition towards EVs in Norway continues, with a strong market for BEVs despite challenges such as new safety regulations and economic downturn. The top-selling models reflect the growing popularity of electric vehicles in the country. The discussion around EV adoption and the impact of regulations on the market is ongoing, and the future of the Norwegian auto industry remains uncertain. Share your thoughts on Norway’s EV journey and join the conversation in the comments.
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