Norway has set a new record in electric vehicle (EV) market share, with 88.9% of all new passenger car sales being battery EVs in 2024. This surge is driven by government incentives and rising taxes on internal combustion engine cars. The country’s EV sales are expected to continue growing, with the head of the Norwegian EV association predicting a significant increase in 2025.
Norway has long been a leader in EV market share, but its success is starting to inspire other European countries. Denmark recently crossed the 50% mark, while the EU average remains around 13%. However, electric car sales have slowed down across the continent, with volumes dropping by 9.5% in November.
The EU’s car manufacturing giant BMW has warned that an EU ban on gasoline and diesel cars from 2035 is no longer realistic due to slow EV sales. This warning highlights the need for increased investment in EV infrastructure and incentives to drive adoption.
As Norway continues to lead the way in EV market share, its success will be closely watched by other European countries looking to follow suit. With government support and tax incentives driving demand, it’s clear that electric vehicles are becoming an increasingly popular choice for car buyers in Norway and beyond.
Source: https://oilprice.com/Latest-Energy-News/World-News/89-of-New-Cars-Sold-in-Norway-Last-Year-Were-EVs.html