Top 4 Reasons Why Norway Leads the Electric Vehicles Market
According to a recently released report that ranks the world’s leading electric vehicle (EV) markets, it is Norway that takes the top spot. Almost a quarter of all new vehicles registered in this Scandinavian country in the first quarter of 2015 were electric.
Think about this for a moment. In one of the richest oil producing nations on the planet, for electric vehicles to hold such a large share of the automotive market is truly phenomenal. To put things into perspective – EV registrations in China and United States, the two largest markets, accounted for merely 0.3% and 0.8% of all new car registrations in the same period.
Here are the top four reasons for why Norway leads the way:
Reason 1: Excellent Incentives
EVs in Norway are not charged with VAT and sales taxes (as in other countries), and they enjoy free access to toll roads and access to bus lanes. They are also eligible for free charging and parking, low annual road fees and free rides in the ferry. All of this makes for extremely low costs in terms of EV ownership.
Reason 2: Charging Centre Network
With big charging centers right in the heart of Oslo (the capital city) and a rapidly growing network of charging stations across the country, Norway is quickly building an impressive array of EV charging infrastructure. This development is critical in the increased uptake of EVs as “range anxiety” is one of the key impediments to EV sales.
Reason 3: Negative Incentives for Traditional Cars
Gasoline/petrol, diesel and natural gas powered cars are taxed heavily in Norway, perhaps more so than in almost any other country in the world. This pushes existing and potential car owners towards electric vehicles.
Reason 4: Appreciable Consumer Awareness
As a result of Norway’s 30 year long campaign to popularize EVs, consumers are very well aware of the benefits of electric vehicles, what incentives they have available and where to charge their cars. In fact, per-capita awareness levels are touted to be the highest in the world, and certainly way ahead of awareness levels in the USA.
Therefore it’s no surprise that the country leads the world in electric vehicles market penetration. Oh, and just in case you wanted to know – the top two bestselling EV models in Norway are the Volkwagen e-Golf and the Tesla Model S., with 20% and 15% of the EV market share respectively.