Written by Cláudio Afonso | info@claudio-afonso.com
As of March 15th, Tesla is leading Norwegian sales having the two most sold vehicles in the country: Model Y with 1,456 units and Model 3 with 574 units delivered. From the 5,531 electric vehicles delivered so far this month, Tesla 2,031 is responsible for units, representing an impressive 36.7% of Market share. Volkswagen is the second automaker with the highest EV Market share of 9.7% follows with 572 units delivered. The German brand has currently delivering three models in Norway with ID.4 Model being the most sold with 528 units so far.
From the Chinese EV Manufacturers, Hongqi is the first one to appear on the list with its model E-HS9 that has sold 123 units so far, being the 9th most sold vehicle in Norway. Warren Buffett backed BYD follows on the list with 52 units delivered so far: 47 BYD Tang and 5 units of ETP3. NIO is currently the third Chinese EV maker by sales with 37 units of its ES8 Model while Xpeng Motors have a total of 32 units delivered so far, divided by its two models: 25 units of G3 SUV Model and 7 P7 Model units.
NIO
As of March 15th, NIO has sold 37 units of its NIO ES8 — the only model available right now. In February, the EV maker delivered 91 units in Norway. 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.
As of 10:23 EST, NIO shares are trading +20.29% higher after today’s meeting between Chinese Vice Premier Liu He and the U.S. Regulators. Liu He held a financial stability meeting and granted that regulat0rs from both nations are “progressing toward a cooperation” — as reported by a Chinese state media.
The company 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. NIO 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.
BYD
The Chinese manufacturer BYD has delivered 52 units so far in Norway: 47 BYD Tang and 5 units of ETP3. In February, the company sold a total 99 units, 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.
BYD announced, in December 2021, the delivery of the 1,000th BYD Tang SUV in Norway. through RSA, a Norwegian distributor. The pure-electric BYD Model 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.
As of 10:23 EST, BYD shares are trading +16% higher after today’s meeting between Chinese Vice Premier Liu He and the U.S. Regulators. As previously said, Liu He held a financial stability meeting and granted that regulat0rs from both nations are “progressing toward a cooperation” — as reported by a Chinese state media.
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 Polestar increased its global presence from 10 to 19 markets in 2021, with growth in Europe and Asia Pacific. In the first half of 2022, Polestar plans to add Spain, Portugal and Ireland to its European market footprint, and enter the Middle East with presence in the UAE, Kuwait and Israel. By the end of 2023, Polestar aims to be operating in at least 30 global markets. The company delivered a total of 261 units in January 2022, 50 vehicles below the previous month record of 317 units.
According to AutoData Corp., Polestar sold 420 vehicles in February and has sold a total of 812 Polestar 2 Model Year-to-date, the only model available in the United States. The company delivered 15 units per day, up from an average of 12.6 units in January — when delivered 392 vehicles in 31 days.
Polestar announced on Tuesday its arrival in Kuwait with the Polestar 2. The company has appointed BNK Automotive, the authorised distributor of Volvo Cars in Kuwait, as its representative in the country. The first Polestar Space in Kuwait is planned to open to the public in Kuwait City later in 2022.
Hyundai
As of March 15th, Hyundai has delivered a total of 280 units of its IONIQ 5 model and it’s on pace to register the best month so far in sales of this model. In February, the company 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.
The Hyundai IONIQ 5 has added to its growing list of Car of the Year honors by being named overall UK Car of the Year 2022. John Challen, Editor and Managing Director of the UK Car of the Year Awards, said the Hyundai IONIQ 5 had been a popular choice as 2022’s number one car. He explained: “The Hyundai IONIQ 5 feels like the future of motoring, only it’s here today. The design, performance and practicality make it a fantastic proposition for those looking for an EV – and also a very worthy winner of the title ‘UK Car of the Year 2022’.”
February 2022 Norwegian Sales
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.
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.
According to The Norwegian Electric Vehicle Association (NEVA), in 2021, the country set a new record for electric vehicle (EV) sales in 2021, with 64.5% of all new cars sold fully electric.
From March 2021 to the end of the year, the average percentage of Electric Vehicles sold in the Norwegian Market was 67.3% (total of 65% in 2021) which means more than 2 out of 3 vehicles sold in Norway was an EV. Compared to the same period in 2020, it increased 27.22% and represented 52.9% of the entire market that year.
Norway has closed 2021 with an impressive monthly record: during December 2021, 90.0% of the vehicles sold were rechargeable. The advantage is clear with only 10% for the other types of vehicles sold. Overall they were sold 20,567 units during the last month of 2021.
After 11 consecutive years leading, Volkswagen lost in 2021 its number one market position in Norway to US EV manufacturer Tesla. Oil-producing Norway exempts battery electric vehicles from taxes imposed on internal combustion engines which help drive the proportion of overall electric sales as high as 80% in 2022. Obviously the subsidies for electric cars aren’t enough on their own to reach this percentage of overall auto-market, although they help create momentum in the population.
Written by Cláudio Afonso | info@claudio-afonso.com