In a remarkable display of electric vehicle (EV) adoption, Norway has maintained its impressive trend, with EVs accounting for an astounding 95% of all new car registrations for the second consecutive month. According to recent data, February saw 8,477 electric cars newly registered, representing a 94.7% share of the total car registrations for the month. The Nissan Ariya took the lead in model rankings, a notable shift from the usual top contenders.
The Norwegian market witnessed 8,954 new electric car registrations in January, equating to 95.8% of all new registrations. February continued this trend, with EVs representing 8,477 out of 8,949 new registrations. This leaves only 472 new registrations that did not utilize a battery-electric drive. This is a marked increase from the previous year. In February 2024, the proportion of electric vehicles was at 90.1%.
The surge in electric car registrations is the primary driver behind a 21.3% year-on-year increase in new registrations, which reached 8,949 vehicles in February. A year earlier, in February 2024, a notable 733 combustion engines and hybrid vehicles were still being registered. The growth reflects the optimism that people are finally fulfilling “the long-delayed dream of owning a new car,” according to the Norwegian road information authority OFV.
“Competition is fierce on the new car market. Nevertheless, I don’t think there will be a price war or major price increases this year,” said OFV Director Øyvind Solberg Thorsen. “Rather, the prices for electric cars could fall somewhat and I believe that last year’s ‘promotional prices’ will become the new normal this year.”
Following the electric car segment with the largest registrations, is 154 petrol hybrids, 145 new diesels, and 134 plug-in hybrids with petrol engines. Pure petrol cars registered only 37 new registrations or 0.4% of the market. Rounding out the new registrations were two plug-in hybrids with diesel engines.
Director Solberg Thorsen also noted that the choice of models is increasingly shifting towards slightly smaller and more affordable cars compared to previous trends. “The VAT threshold of over NOK 500,000 for electric cars is clearly significant. Many buyers of a new car are aware of this limit and stay just below or close to this amount,” Solberg Thorsen explained. “And this is possible because there are now many brands and models available at a price level that meets the needs of most car buyers.” 500,000 Norwegian kroner is equivalent to roughly 42,740 euros.
The Nissan Ariya led the model ranking in February with 627 new registrations, followed by the Tesla Model Y (604) and the Toyota bZ4X (574). Ranking fourth was the VW ID.4 with 512 vehicles, just above 500 registrations. The VW ID.7 (389), the ID.3 (335), and the Tesla Model 3 (311) follow in the standings ahead of the new Kia EV3 (287), the Skoda Enyaq (268), and the Volvo EX30 (261). The Eynaq is in the middle of a model changeover to its updated, facelift version. The demand for these models is expected to be clearer in the coming months.
