EVs reach 90% market share in Norway as the overall auto market falters

The days of ICE vehicles in Norway are numbered. Some years ago, the government set a goal of 100% electric sales by 2025, and that goal is well within sight. In the month of February, plug-in vehicles took 92.1% of the market, up from 90.1% year-on-year. Battery EVs took a 90% share, as recent tax changes make PHEVs less appealing.

Volkswagen sold its last gas-powered car in Norway last December, and it seems likely that other brands will follow.

Tesla’s Model Y was by far the best-selling vehicle—it sold 1,749 units, 23.7% of the entire auto market. Its sales were about equal to those of the next 7 models combined. Joining Model Y on the podium were the Toyota bZ4x and Volkswagen ID.4, followed by the new Volvo EX30, and two old favorites, the Nissan LEAF and Hyundai Kona.

The steady rise of EVs is occurring against a backdrop of slower overall auto sales. A total of 7,380 cars sold in Norway in February, a decrease from last February. The trade group OFV (Norwegian Road Federation) ascribes the ailing auto market to weakness in the broader economy—interest rates are up, and so are prices for food and electricity.

However, CleanTechnica identifies another possible culprit: stubbornly high prices for EVs. Legacy vehicles are subject to heavy taxes, but there are few affordable electric models. The cheapest BEV CleanTechnica found on offer was the 39 kWh Nissan LEAF, which starts at 232,600 Norwegian kroner (about $22,000). For better or for worse, a lack of low-priced options seems likely to result in declining overall auto sales.

The lack of affordable EVs is an issue everywhere in Europe, and in the US. Auto buyers in China and India (and increasingly, smaller emerging auto markets) have more cheap entry-level models to choose from. Western automakers, following Tesla’s lead, have chosen to electrify their high-end models first, and Chinese companies are eagerly filling the vacuum, ramping up exports of low-priced EVs (and ICEs).

Yes, Chinese EVs can be seen on the streets of Oslo and other Norwegian cities, but of the models currently on offer, only the MG4 cracked Norway’s top 10 in February. However, the super-cheap BYD Dolphin made its Norwegian debut last month, and others are on the way, so følg med!

Source: OFV via CleanTechnica

from Charged EVs https://ift.tt/5sgEdkZ