Norway Is Offering An Opportunity For Tesla To Become Leading EV Brand – Market News Store

Norway Is Offering An Opportunity For Tesla To Become Leading EV Brand

In the month of March, more than 58% of zero-emission passenger cars were sold in Norway, according to the Road Traffic Information Office (OFV) of Norway. That is a great achievement for the country to direct the world by encouraging the adoption of zero-emission vehicles.

The tough sales reflected a suppressed demand for the new Model 3 introduced by Tesla. The model became available in bulk at the end of the month of February. In March, 5,315 units of Model 3 were sold out of the total 18,375 vehicles purchased by the people in Norway. While, the other electric-based Tesla models, majorly Model X and Model S collectively contributed to increasing vehicles’ sales by 500.

According to Reuters’ reports, the fully electric car sales in Norway reached a record high of 31.2% from 20.8% in the previous year.

Both the plug-in hybrid and electric vehicles have acquired 50% of the market share in Norway during the last year, as compared to the 2% market share acquired throughout Europe.

The reason behind shocking elevated sales of the electric vehicles in Norway is the aggressive regulations and policies set by the administration to encourage the adoption of electric vehicles and shifting the customers away from gas-powered vehicles that put a strong impact on the environment. Heavy taxes are being imposed by Norway on combustion-based cars, but the complete exemption is provided for electric as well as hydrogen-powered vehicles. That’s why Norwegians prefer to purchase electric vehicles to gas-powered cars.

Apart from these, state and local governments in Norway also put a few efforts to encourage the use of electric vehicles. Norway’s capital, Oslo has made unique efforts by offering HOV-lane access, free vehicle charging, free parking, and toll-free roads, particularly for electric vehicles.

Norwegian Electric Vehicle Association Head, Christina Bu, has been expecting electric cars to grab 50% of the new car market for the current year.

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