Tesla (TSLA) Becomes Best-Selling Brand in Norway as Country Breaks New Electric Vehicle Records

Tesla became the best-selling brand in Norway for the whole of 2021 despite having only two models available on the market, which helped the country to break new electric vehicle records again.

Norway is the leading market for electric vehicles in terms of per capita adoption.

As many markets introduce plans to ‘ban’ gasoline cars by 2030, 2035 and even later, Norway is aiming for every new car on the road to be fully electric by 2025, and it is on the way to getting there early.

This year’s results have been nothing short of breathtaking, with the December numbers released today being no exception and showing us all year.

64.5% of all cars sold in Norway in 2021 were fully electric, an increase of 10 points from last year:

Passenger cars Number in December 2021 Market share in December 2021 Market share in December 2020 Market share in 2021 Market share in 2020
Gasoline engine only 686 3.3% 2.7% 4.2% 8.0%
Diesel engine only 720 3.5% 4.8% 4.0% 8.6%
Hybrids all 5 358 26.1% 25.8% 27.2% 29.1%
Electric car 13 793 67.1% 66.7% 64.5% 54.3%

As you can see, sales of internal combustion engine vehicles (gasoline and diesel) slowed down sharply with only 4% market share each.

If you look at the top 10 best-selling vehicles on the market in 2021, you will only find all-electric vehicles with the exception of the Toyota RAV4:

Tesla Model 3 is well in the lead and the brand also has the Model Y in 4th place with more than 8,000 units delivered in 2021.

It was enough to make Tesla the best-selling car brand in the country in 2021:

This is despite not delivering any Model S and Model X on the market and the Model Y is coming later in the year. Other EVs have also added significant volumes, such as the VW ID.4 electric SUV, the Volvo XC40 and the Mustang Mach-E.

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This shows that the idea of ​​Tesla falling once the competition arrives is wrong.

Competition from electric vehicles has arrived in Norway, but this does not affect Tesla as the demand for electric vehicles in the market still exceeds supply. For years, I have spoken of an impending market shift, which I believe is expected to occur in the United States in 2024-25, where the vast majority of new car buyers realize their next car needs to be. be fully electric.

This change has already happened in Norway and we are seeing what is happening in the market. Soon we are going to see more and more markets making a similar shift and any automaker that can allocate more electric vehicle supply in those markets will come out on top.

Right now, it’s still Tesla.

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