Electric car sales capture 94% of the market share in Norway

Electric car sales in Norway took a 94% share of the market in August—a new world record—statistics showed Monday, as sales in the rest of Europe stagnate. Boosted by the Tesla Model Y, which accounted for 18.8% of sales, and to a lesser extent Hyundai’s Kona and Nissan’s Leaf, electric vehicles (EVs) made up 94.3% of new car registrations, the Norwegian Road Federation said.

Norwegians bought 10,480 new EVs in August, bringing the total to 68,435 since the start of the year. Elsewhere in Europe, high prices and insufficient infrastructure have hampered EV sales, while those of hybrid models, which combine fossil fuel engines with electric batteries, have grown.

Norway, a major oil and gas producer, has set a target to sell only zero-emission vehicles by 2025, 10 years ahead of the EU goal. It offers generous tax benefits which make electric models competitively priced.

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