EVs Take 96.9% Share In Norway – Toyota BZ4X Best-Seller

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January noticed plugin EVs take 96.9% share in Norway, up from 93.9% yr on yr. BEVs alone took nearly 96% of the market. General auto quantity was strongly up on seasonal norms, at 9,343 models, up 82% YoY. The Toyota BZ4X was the best-seller.

January’s auto gross sales noticed mixed EVs take 96.9% share in Norway, comprising 95.8% full electrics (BEVs), and 1.0% plugin hybrids (PHEVs). These examine with YoY figures of 93.9% mixed, with 92.1% BEV, and 1.8% PHEV.

January is habitually the lowest-volume month of the yr for the general auto market, however this yr noticed an unusually excessive quantity. That is maybe as a result of customers are feeling extra optimistic that the economic system has lately been considerably constructive and secure following the mid-2023 downturn, and thus really feel it’s a “safe” time to stretch for a brand new automotive (this attitude can also be shared by Norway’s OFV).

There have been no substantial modifications (so far as I can discover, remark if you understand in any other case) to the taxation charges for various automobile powertrains in January 2025, so the month didn’t see any step-changes within the steadiness of powertrains. What January did see was the persevering with inexorable climb of BEVs.

The OFV studies that solely two auto fashions within the high 50 general autos weren’t BEVs (and the primary of them showing at thirty fourth rank). OFV doesn’t give the main points of which fashions these have been, however the normal candidates are the Toyota Yaris, Corolla, or RAV4 hybrid. There could also be a Skoda diesel within the combine additionally.

Regardless, no different powertrain is above 1.5% of the market now, with diesels in that place. HEVs come subsequent at 1.3%, adopted by PHEVs at 1.0% and petrol-only at simply 0.35% (and 33 models).

Finest-Promoting Fashions

The Toyota BZ4X was the best-selling auto in January, with 863 models, forward of the Volkswagen ID.4 (542 models), and Nissan Ariya (403).

The Toyota BZ4X’s lead seems to be attributable to a batch cargo arriving in January, boosting its whole, and representing its private finest efficiency in Norway. Its common month-to-month quantity over the previous 12 months has been barely over 500 models – respectable, however solely sufficient to place it in fifth spot over this longer interval. Let’s see if Toyota provides a sustained larger quantity this yr.

The opposite high 20 fashions are acquainted faces, and it’s value noting that the brand new Audi Q6 e-tron appears to be stabilizing close to tenth place, a formidable outcome given its excessive worth level.

By way of new fashions arriving in Norway for the primary time, the Hyundai Inster appeared in January, with simply 4 preliminary models. This can be a subcompact “SUV” measuring 3,830 mm in size, with MSRP ranging from 231,000 NOK (19,900€). For extra particulars on the Hyundai Inster, see Jose’s recent summary. Providing a well-thought-out bundle, at good worth, I’d count on the Inster to climb near the highest 20, though — at nearly half a meter shorter than the Volvo EX 30 – it might be somewhat too small for many Norwegian automotive patrons.

As for lately arriving fashions, the Opel Grandland adopted its 3-unit December debut with a good 37 models in January. The Audi S6 e-tron climbed to 17 models, up from simply single models over the earlier two months. The brand new Dongfang Nammi Field (from 17,200€) obtained again to a good 20 models after having taken an early pause at simply 6 models in December (from its November 23-unit debut). Even the MG Cyberster convertible climbed once more in January, to eight models in the course of the Norwegian winter. Maybe the Cyberster can get to twenty or 30 month-to-month models in the summertime? Let’s wait and see.

Right here’s the 3-month chart:

Regardless of a reasonable January, the Tesla Mannequin Y nonetheless has a powerful lead, constructed on massive November and December volumes. Relying on how shortly the refreshed Mannequin Y will be pushed out (beginning in March), it might or might not lead Q1’s rankings. Given the technical refresh, nevertheless, approaching high of how overwhelmingly dominant the Mannequin Y was in 2024, it could be unwise to guess towards it main once more in 2025. With increasingly good BEVs on provide, the Mannequin Y’s lead might shrink, however is unlikely to be overturned.

The Tesla Mannequin 3 took second place, and the Volkswagen ID.4 got here in third. Additional again, the one notable traits within the desk are a few latest climbs. Essentially the most vital of those was the Ford Explorer, which had solely simply arrived within the earlier interval (August to October), although had already achieved a decent twentieth place. Now it has climbed additional, to tenth, a terrific outcome for Ford. The opposite newish mannequin nonetheless climbing is the Audi Q6 e-tron, simply behind the Ford, in eleventh spot, additionally a terrific outcome.

It will likely be fascinating to see whether or not the Opel Grandland, or the Hyundai Inster, can step into the highest 20 within the months forward – what do you suppose? Tell us within the feedback.

Outlook

As famous earlier, the year-on-year progress within the Norwegian auto market appears to replicate the latest broader upturn within the nation’s economic system, following the downturn in 2023. The newest confirmed macro knowledge stays that from Q3 2024, which noticed GDP up a wholesome 3.5% YoY. The Q4 figure is forecast at 3.2% YoY growthalthough the precise determine will arrive subsequent week. Inflation now stands at 2.2%, and rates of interest stay at 4.1%, unchanged in over a yr, however anticipated to fall quickly. Manufacturing PMI was 51.2 factors in January, up from 50.4 factors in December.

Though Norway is already on the end result of the EV transition, the remaining few % share shall be helped by the arrival of extra inexpensive BEVs stemming from the Europe-wide emissions tightening guidelines in 2025. As mentioned in latest studies, different underserved niches (like medium-sized pickup vans) may also see BEV choices arriving in 2025, additionally serving to the BEV share fill out the remaining few % of the market.

What are your ideas on Norway’s auto market? What fashions would possibly rise or fall in recognition in 2025? Please bounce into the feedback under and be a part of within the dialog.