NEWS

Almost all new cars registered in Norway last year were fully electric, official data showed on Friday, headed by booming Tesla (TSLA.O), opens new tab sales as the Nordic country cements its global lead in phasing out petrol and diesel-powered vehicles.
Oil-producing Norway’s rapid switch to battery-powered vehicles contrasts with the rest of Europe, where weak demand for EVs prompted the European Union last month to reverse its planned 2035 ban on internal combustion engine cars.

Driven by tax incentives, 95.9% of all new cars registered in Norway in 2025 were EVs, with that number at almost 98% in December. The annual figure was up from 88.9% in 2024, Norwegian Road Federation (OFV) data showed.

A record 179,549 new cars were registered in Norway during the year, a 40% increase from 2024, the OFV said.

EV TAXES SET TO RISE
Tesla was Norway’s top-selling car brand for a fifth consecutive year, with a 19.1% market share, followed by Volkswagen at 13.3% of registrations and Volvo Cars (VOLCARb.ST), opens new tab at 7.8%.
Led by the mass-market crossover Model Y, Tesla sold 27,621 cars in Norway in 2025, more than any other automaker has sold in the country in a single year, overcoming a consumer backlash plaguing the brand in much of Europe over CEO Elon Musk’s support for far-right parties and his backing of U.S. President Donald Trump.

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