Written by Cláudio Afonso | info@claudio-afonso.com
In February 2022, Audi led the Norwegian sales with a 13.3% Market share and a total of 742 units sold from its different 5 EV models available in the Country. Three of them were among the 25 most sold models: E-Tron, Q4 E-Tron and Q4 E-Tron Sportback. The German brand was followed by Hyundai and Kia, with 9.7% and 8.5% of Market share respectively. Hyundai has the best selling model on the Scandinavian country with Hyundai IONIQ 5.The model has a 489,900 Nok ($55,235 USD) starting price, ranked #1 with 455 units, down from the 476 vehicles sold in the first month of the year. Also Audi, Skoda and Ford had good numbers delivering more than 300 units each one.
When it comes to the Chinese EV Manufacturers, Hongqi (a Chinese luxury car marque owned by the automaker FAW Car Company) is the first one to appear on the list with 204 units of its E-HS9 model. BYD comes second with 1.5% of Market share with 99 units sold, 99 TANG model and 10 ETP3. Xpeng was the 3rd Chinese EV maker with 138 units sold (2.2% Market share) and Nio sold a total of 91 ES8 Model units.
Q4 2021
During the Fourth Quarter of 2021, Tesla delivered 6,185 units (18% Market share) in Norway, 41% more than the second brand on the ranking, Volkswagen with 3,637 units. During Q3 2021, Tesla’s Market share was even higher with 23.4% which means, almost 1 out of 4 electric vehicles sold were a Tesla model.
NIO
Last month, Nio delivered 91 units in Norway. Currently, the company is only exporting its ES8 Model to the Scandinavian country, although, its highly expected ET7 model will arrive Norway in the last quarter of 2022 and the ET5 (announced during the NIO Day last December) in the first quarter of 2023, as revelead by Nio’s CEO William Li on January 22th. In January, the Chinese EV maker sold 44 units, down from the 67 sales reported in December 2021. Nio opened two months ago its first Battery Swap Station in Europe and plans to have 20 Stations in five different Norwegian cities by the end of the year.
On Wednesday morning, the EV maker NIO posted on LinkedIn a new job vacancy for a General Manager to lead the P&L and drive business growth in United Kingdom. Among the key responsabilities, the candidate will “help to define and be in charge for execution of the UK Market strategy” suggesting the move probably by early next year.
On Tuesday, the company said that it will report its fourth quarter and full year 2021 unaudited financial results on Thursday, March 24, 2022, after the close of the U.S. markets. The Company’s management will host an earnings conference call at 9:00 PM U.S. Eastern Time on March 24, 2022 (9:00 AM Beijing/Hong Kong Time on March 25, 2022). A live and archived webcast of the conference call will be available on the Company’s investor relations website at https://ir.nio.com/news-events/events.
Xpeng Motors
Xpeng Motors sold 138 units in Norway during February reaching the best result since its debut in the country. During Q4 2021, the company delivered a total of 179 units, only 41 more than January sales indicating that Q1 2022 deliveries could reach more than 300/350 units. The Guangzhou based EV maker has only two models available in the country (P7 and the SUV G3) but is expecting to launch more during this year. The company introduced, last October, its large electric sedan P7 to the Norwegian market, after the electric SUV G3 has already been delivered there since late 2020.
Earlier this month, Xpeng entered the Swedish Market with its first showroom located in the Westfield Mall, in Stockholm. The company entered Europe in December 2020 with the first deliveries in Norway, the country with the highest EV penetration. When the company arrived Norway, Xpeng’s President said: “In the long run, if you want to be a successful EV company, you have to be a global one. We’re starting the effort to build our presence, doing limited testing in certain markets and treating this as a very long-term strategy.”
Ealier this week, XPeng announced that delivered 6,225 Smart EVs in February 2022, representing a 180% increase year-over-year. According to the company, the February deliveries consisted of 3,537 P7 smart sports sedans, representing a 151% year-over-year increase. 2,059 P5 smart family sedans were delivered in February, bringing cumulative deliveries of the P5 to 13,953 since its launch in September 2021.
Polestar
In February 2022, Polestar sold 386 units of its Polestar 2 model being the third best selling model in Norway. The result represents an increase of 47.9% from the previous month, when the company delivered 261 vehicles.
In 2021, Polestar’s luxury sedan was the 10th most popular car model in the Scandinavian country, the one with the highest EV adoption. The Swedish EV maker announced yesterday its O2 Concept car, the hard-top convertible that has autonomous cinematic drone integrated.
The company intends to list on the Nasdaq in a proposed business combination with Gores Guggenheim, Inc. ($GGPI), which is expected to close in the first half of 2022.
Last month, the company had its first-ever Super Bowl commercial which, according to EDO, was 23x more effective than the median Super Bowl LVl ad airing. The commercial was initially leaked by our site some hours before the event and reached 55,000 views during the first 4 days.
BYD
BYD sold a total 99 units during February, 14 less than during the previous month but away more than the 13 units delivered during February 2021. The company has currently two models available in Norway, TANG and ETP3. BYD TANG is priced at 599,900 NOK ($67,633) and is gaining widespread recognition in Norway with positive feedback from customers, and the motoring industry alike — said the company. The company announced, in December 2021, the delivery of the 1,000th BYD Tang SUV in Norway. through RSA, a Norwegian distributor.
Frank Dunvold, CEO of RSA, said: “We have enjoyed fantastic demand for the BYD Tang in just a few months since its launch, and we see this escalating at pace in 2022. The people of Norway are very environmentally conscious, and the pure-electric zero-emission Tang SUV is the perfect fit. It is stylish, comfortable and offers great driving performance, while being practical too. We don’t see demand slowing down and we are fortunate to have good levels of supply coming through, which means customers are not having to wait for extended periods of time for delivery.”
According to Auto Industry Association, Norway’s sale of fully Eletric Vehicles rose to 65% Market Share in 2021 From 54% in 2020 making the Scandinavian Country a great option to enter the European Market. The Scandinavian country has the goal of becoming the first to end the sale of petrol and diesel cars in 2025. Oil-producing Norway has encouraged the switch to zero emission cars by exempting battery electric vehicles (BEVs) from taxes imposed on internal combustion engines (ICE).
Written by Cláudio Afonso | info@claudio-afonso.com
