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szdaily -> World Economy -> 
Carmakers jostle as Norway goes electric
    2020-01-06  08:53    Shenzhen Daily

NEW electric car sales in Norway rose by a third last year amid soaring demand for Tesla Inc.’s vehicles, but the pioneering U.S. company will face a more competitive market in 2020 as rivals prepare to launch new electric models.

Fully electric cars made up 42.4 percent of sales in the Nordic country last year, a global record, rising from a 31.2 percent market share in 2018 and just 5.5 percent in 2013, the Norwegian Road Federation said Friday.

Norway, which is Europe’s biggest oil and gas producer, is seeking to become the first country to end the sale of fossil-fueled cars by 2025. The country has exempted battery-powered vehicles from the taxes imposed on petrol and diesel engines and after just a few years the streets of Oslo have become quieter and have less air pollution.

Most of Norway’s top 10 cars in 2019 were electric, including Volkswagen’s Golf, Nissan’s Leaf, Audi’s e-tron, BMW’s i3, Jaguar’s I-PACE and several of Hyundai’s models.

New car sales in the country last year were 142,381, of which 60,316 were fully electric. This year, as many as six in 10 of all new cars sold in the country could be fully electric, said Volkswagen distributor Harald A. Moeller AS, which is preparing to launch several models in 2020.

Other importers predicted the market share in 2020 would be in a range of 50 to 60 percent of all sales.

“The electrification of the car market is accelerating. ... We forecast electric vehicles to hold a 100 percent market share in 2025,” Volkswagen said of the outlook for Norway.

The country’s best-selling car in 2019 was Tesla’s mid-sized Model 3 sedan, which retails from 384,900 Norwegian crowns (US$43,721.74), racking up an 11 percent market share in the California-based firm’s first attempt at cracking the mass market.

Rising global awareness of climate change has encouraged a shift in regulation, technology and consumer preferences, disrupting the auto industry and boosting Tesla’s share price to make it one of the world’s most highly valued car brands.(SD-Agencies)

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