Norwegian November electric vehicle sales rise 41.2% on year: OFV

New zero-emission electric or hydrogen vehicle sales in Norway rose 41.2% year on year in November to a record high 15,915 units, according to the latest data released early December by the Norwegian Road Information Authority (OFV).

Zero-emission vehicle sales were also 63.6% higher month on month and accounted for 81.6% of the month’s total new passenger car registrations, which were up 27.3% year on year and 55.4% higher than October to the highest level since December 2021, the data showed.

For the first 11 months of 2022, zero emission vehicle sales totaled 105,915 units, up 5.6% year on year and making up 78.3% of the total 134,831 vehicles sold in Norway during the period.

Despite 2022 facing major production and delivery challenges as a result of the Russia-Ukraine war and the pandemic, the OFV noted that the rate of registration increased in November and was accelerating towards the turn of the year, with 2022 likely to be a “normal year” in terms of the number of first-time registered new passenger cars.

“Both at the port of Drammen and in other places in Norway where new passenger cars are driven ashore, new cars are lined up and waiting to be prepared, registered and handed over to waiting customers,” it said.

“Never before have so many cars been unloaded in the port of Drammen in one month as in November — almost 18,000 cars,” it added.

“Both importers and dealers are working at full speed to get new ordered passenger cars to Norway,” OFV Director Øyvind Solberg Thorsen said, adding that it was about getting as many people registered, as quickly as possible.

“Customers have often ordered their cars six months ago or even further back, and large order reserves are coming in,” he said.

Increased demand for EVs has driven up battery metal prices, with Platts, part of S&P Global Commodity Insights, assessed seaborne lithium carbonate and lithium hydroxide at $77,200/mt CIF North Asia and $83,000/mt CIF North Asia Dec. 5, up 128.4% and 161.8%, respectively, since the start of 2022.

Meanwhile, registrations of new hybrid cars in November dropped 10.1% year on year but increased 39.4% from October to an 11-monht high of 2,931 units, making up 15% of the total sales.

Of these, 1,502 were rechargeable hybrids and 1,429 were not rechargeable.

Sales of petrol engine cars amounted to only 229 units, or 1.2% of total new vehicle sales in November, the lowest market share on record.

The total dropped 35.7% on the year and also fell 13.9% from October to the lowest monthly level on record.

Sales of diesel engine cars in Norway in November climbed 5.3% from a year ago but fell 5.2% from October to a four-month low 438 units, a 2.2% share, which was also the lowest share on record.

According to S&P Global Commodity Insights, Norway’s plug-in light duty EV sales are forecast to reach 161,860 units in 2022, up from 147,120 units in 2021, with this rising to 200,520 units in 2025 and 206,800 in 2030.

Norway has been one of Europe’s front-runners in EV adoption, with its total 2021 light duty PEV sales ranking sixth in the world after China, Germany, the US, the UK and France, according to S&P Global.

EV sales have been boosted by government incentives, including no purchase/import taxes, exemption from 25% VAT on purchase, reduced annual road tax, 50% toll road and ferry charges, cheaper municipal parking fees and access to bus lanes, among others.

— Jacqueline Holman