• 5 minutes Covid-19 logarithmic growth
  • 8 minutes Why Trump Is Right to Re-Open the Economy
  • 12 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 14 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 1 hour The Most Annoying Person You Have Encountered During Lockdown
  • 1 min Which producers will shut in first?
  • 7 hours Its going to be an oil bloodbath
  • 3 hours How to Create a Pandemic
  • 3 mins Why should ANY oil company executive get ANY bonus now?
  • 2 hours What If ‘We’d Adopted A More Conventional Response To This Epidemic?’
  • 2 hours Saudi Aramco struggling to raise money for this year's dividend of $75 billion. Now trying to sell their pipelines for $10 billion.
  • 7 hours KSA taking Missiles from ?
  • 2 hours Russia's Rosneft Oil Company announces termination of its activity in Venezuela
  • 9 hours Dr. Fauci is over rated.
  • 4 mins A New Solar-Panel Plant Could Have Capacity to Meet Half of Global Demand
  • 9 hours Breaking News - Strategic Strikes on Chinese Troll Farms
Alt Text

Oil Stocks Haven’t Hit The Bottom Just Yet

The coronavirus pandemic, in addition…

Alt Text

Oil Majors Rally On Rising Crude Prices

Big Oil’s stocks soared on…

Alt Text

Why A 15 Million Barrel Per Day Cut Will Never Happen

Oil prices skyrocketed on Thursday…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

The Country Where Electric Cars Outsell Petrol Cars

Western Europe’s largest oil and gas producer has just set a historic record in its electric vehicles (EVs) market.

For the first time ever, EV sales in Norway in March outstripped sales of gasoline and diesel cars combined, confirming the Nordic country’s undisputed global leadership in EV market share and setting it on the road to achieve its national goal to have all cars sold by 2025 be zero emission, either electric or hydrogen.

The nearly 60-percent record EV market share in March was driven by two key factors—Norway’s consistent government policies in incentivizing purchases of zero-emission cars and a record number of Tesla Model 3 deliveries last month.

In March, for the first time in history, more than half of the passenger car sales in Norway were fully electric vehicles—battery electric vehicles (BEV), the Norwegian EV Association said this week.

According to statistics from the Norwegian Road Federation (OFV), the BEV market share stood at 58.4 percent in March, exceeding 50 percent for the first time ever. The market share of fully electric vehicles in the first quarter of 2019 was also the highest on record—at 48.4 percent.

Much of the historic market share was due to an astonishing 5,315 Model 3 deliveries last month, the Norwegian EV Association said.

“Tesla set a new benchmark for competing car manufacturers with an astonishing 5315 Model 3 units registered during March, beating the previous strong number recorded by Nissan LEAF last year,” the association’s release noted.

Norway may have a population of just 5.3 million people, but it is an important market for all EV makers, especially for Tesla. This importance is also recognized by Elon Musk who retweeted with heart emoticons Norway’s sales numbers for March.  

“Norway has every reason to be proud of breaking more BEV records. The BEV policy is working so well that the larger part of consumers opt for a BEV when buying a new car,” said the Norwegian EV Association’s Secretary General Christina Bu.

“Norway shows the whole world that fully electric cars can replace petrol and diesel cars and become an important contribution to combat CO2 emissions, as well as relieving local air from other harmful gases caused by burning fossil fuels,” Bu noted. Related: Supermajor Shell Looks To Revitalize The Rust Belt

The association estimates that the BEV market share in Norway will be around 50 percent for the full 2019.  

“We are now aiming for 1.2 million BEVs on Norwegian roads by 2025, which is a little more than five times today’s number,” Bu said.

As at the end of 2018, Norway’s BEV fleet had a 30-percent market share, while the share of plug-in hybrids (PHEVs) held a market share of 19 percent, according to data from the Norwegian Public Roads Administration. The number of BEVs on the roads was just above 200,000, with PHEVs at just over 96,000.  

Thanks to Norway’s many tax incentives and no-tolls for EVs, the market share of EVs jumped from just 1 percent in 2011 to 31 percent last year, statistics from the Norwegian EV Association shows.

According to the latest estimates of the International Energy Agency (IEA), Norway remained the world’s most advanced market for electric car sales in 2017, with over 39 percent share of new sales, followed by Iceland at a distant second with 11.7 percent and Sweden with 6.3 percent.

In China, the largest market in terms of volumes, the share of EVs was 2.2 percent in 2017, the IEA says.

In January 2019, there were nearly 5 million passenger EVs on the road globally, Angus McCrone, Chief Editor at BloombergNEF (BNEF), wrote in an article earlier this year.

BNEF forecasts that another 2.6 million EVs will be sold worldwide this year, a 40-percent annual increase, which would be down from the 70-percent growth rate last year, but still quite impressive.

China will continue to be the leader in terms of volumes sold, with some 1.5 million of EV sales this year, accounting for around 57 percent of the global market, McCrone said, noting that growth in Europe should be strong in the Nordic countries and Germany.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage






Leave a comment
  • Lee James on April 04 2019 said:
    The U.S. could lead in clean energy, in a lot more than just battery storage, if . . . .

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News