Tesla’s new car registrations in Norway soared 212.5% year-on-year in May, reaching 2,600 vehicles, driven by strong demand for the refreshed Model Y and a sharp rebound in Model 3 sales, data from the Norwegian Road Federation (OFV) showed on Monday.
The result marked Tesla’s best month of the year, its second-best May on record, and the third-strongest second month of a quarter in its history in Norway.
Tesla was the third best-selling brand for the month, with its market share rising to 18.1%, or 639 basis points above its three-month trailing average of 11.8%.
The surge was led by the Model Y, which accounted for 2,346 units — up 240% from a year earlier — and remained Norway’s top-selling vehicle for the month.
The Model Y made up around 90% of Tesla’s registrations, while the Model 3 contributed the remaining 10%, with 253 units sold — up 87.4% year-on-year.
Tesla’s May performance represented a 184% increase from April and helped make the current quarter its third-best ever after just two months, with volumes up 123% from the same period in the previous quarter.
Cumulative Tesla deliveries in Norway totaled 7,381 units in the first five months of 2025, up 8.3% from 6,815 a year earlier.
The year-to-date figure accounts for roughly 30% of Tesla’s full-year 2024 volume, or 3.7 out of 12 months. The latest three-month period was also up 25.6% compared to the December–February period.
The rebound follows a slow start to the year and comes amid intensifying competition from Chinese and European electric vehicle makers.
Tesla has responded with price cuts and lease incentives across Europe, including zero-interest financing in Norway for customers taking delivery of a new Model Y before the end of June.
Battery electric vehicles accounted for 92.7% of all new car sales in Norway so far this year, according to OFV, keeping the country on track to phase out sales of petrol and diesel cars.
The Model Y was Norway’s best-selling vehicle in May, representing 16.5% of all new car registrations and widening its lead over rivals including Toyota’s bZ4X and Volkswagen’s ID.4.
Norway remains a key market for Tesla, with battery electric vehicles accounting for 92.7% of all new car sales so far this year, keeping the country on track to end petrol and diesel vehicle sales in the near future.
Norway’s central bank Norges Bank closed its position in Tesla, Rivian and Lucid in the first quarter of the year.
The institution had reopened all three positions in the last quarter of 2024, when it held over 47 million shares in the trio, worth over $14.55 billion by the end of the year.
Norges Bank had registered a record stake in Tesla late last year — since it first opened a position in the company in mid-2012.
Norges Bank was Tesla’s eighth biggest institutional shareholder by the end of 2024, in a universe of over 4,000 institutions.
