EVs Take 94.9% Share In Norway – Renault 5 First Customer Deliveries

May saw plugin EVs take 94.9% share in Norway, up from 82.3% year-on-year. BEVs alone took 93.9% share. Overall auto volume was 14,260 units, up 39% YoY. The Tesla Model Y was the best-selling vehicle.

May’s auto sales saw combined EVs take 94.9% share in Norway, comprising 93.9% full electrics (BEVs), and 1.1% plugin hybrids (PHEVs). These compare with YoY figures of 82.3% combined, with 77.0% BEV, and 5.3% PHEV.

The YoY baseline was low, with BEVs in May 2024 seeing a temporary dip as manufacturers cleared their stocks of older cars (mostly not-plugins) ahead of the tighter EU vehicle safety regulations. So take the apparently large YoY gains in share for BEVs with a pinch of salt.

Having said that, the pattern of market shares this year has also been mildly erratic (see graph below), as March was the last month before tax increases on all non-BEVs, particularly on PHEVs, leading to a large pull-forward in sales, and a subsequent hangover. The next few months should settle-in to a “new normal” balance of market shares. I expect BEVs to be mostly in the range of 94% to 98% market share, with HEVs, diesels, and PHEVs (in that order) jostling over the remaining crumbs.

Petrol-only share has typically been no more than 0.5% of the market over the past 10 months, and – except for temporary pull-forwards – should stay below this level in the future.

Best-Selling Models

The Tesla Model Y (now in the Juniper form) was the best-selling vehicle in May, with 2,344 units, representing over 16% of the passenger auto market. This was the Model Y’s 3rd consecutive month in the top spot.

The Toyota BZ4X came in second place with 927 units, ahead of the Volkswagen ID. Buzz in third, with 616 units.

The notable moves in the top 20 were the MG4’s return to decent monthly volumes (348 units and 8th position) after almost a year of quieter sales and ranking outside the top 20. There were also record volumes for the new BYD Sealion, with 338 units, and 9th spot.

As we also saw in neighbouring Sweden, the new Volvo EX90 continues to steadily climb in Norway, and has now entered the top 20 for the first time, with a record 214 units.

Further back, the new MG S5, which only debuted in March, continued to climb, stepping up to 153 units in May, and ranking 25th. On this trajectory, it may enter the top 20 next month.

The new Renault 5 also broke out of its recent sampling-only volumes for the first time, and registered 59 units in May, some of which must be end-customer deliveries. Is this the beginning of its journey to the top 10 in Norway? Let’s keep an eye on it.

The R5’s rival the Citroen e-C3 is still well ahead for now, seeing 111 units in May, but this was below April’s 173 units. Is this a demand plateau for the Citroen, or just a temporary breather? And likewise for the Hyundai Inster, which got an early lead in February, but saw dipping sales in May – is this just a logistics ebb, or is it a demand plateau? Finally – how will the incoming Renault 4, and the e-C3 Aircross, fare in Norway?

Two other recent newcomers saw decent growth in May. The new Zeekr 7x climbed from April’s 4 units, to 41 units in May. The new Ford Puma climbed from April’s 9 units, to 56 units. The new Skoda Elroq which had quickly climbed into the top 20 by April, took a break in May, but will no doubt be back to growth soon.

There were two new debutants in May. The new Opel Frontera saw an initial 36 units registered. This compact crossover is based on the same STLA Smartcar platform as the new Citroen e-C3 and the e-C3 Aircross, and is close to the Aircross in size (length of 4,385 mm, height of 1,635 mm). The entry variant has a WLTP range of 305km (44 kWh usable LFP battery), with an MSRP starting from 238,900 NOK (€20,730). A bigger battery variant, good for 400 km WLTP, will come later.

Mazda registered 2 units of their new Mazda 6e large sedan in May. These may be test-drive units for now, I will come back to this model if and when it sees significant customer volumes.

On a lighter note, when the MG Cyberster debuted in early winter 2024, I pondered whether its initially modest sales volumes (single-digits) might pick up as the summer approached. May saw 16 units registered, and I’ll be interested to see if that increases further in June and July. This is still the only open-top BEV roadster on sale in Europe.

Let’s check in on the trailing 3-month chart:

Having taken the monthly top spot for the past three months, the Tesla Model Y comfortably retained the lead, far ahead of all others. The Toyota BZ4X took second place, just ahead of the Volkswagen ID. Buzz. Not stopping there, Volkswagen brand’s ID. lineup also took 4th, 5th, and 6th spots.

Strong recent climbers in the top 20 include the MG4, and the BYD Sealion, now both just outside the top 10. Further back, the Volvo EX90 has climbed to 23rd and may make the top 20 next month. Likewise for the Skoda Elroq, currently in 26th. It’s still too early to say when the Citroen e-C3 and the MG S5 might make the top 20 chart, but there’s every chance they will at some point this year, so let’s keep an eye on them.

Outlook

According to the Norwegian OFV, the YoY auto volume recovery in May may be attributable to increased optimism in the general economy, or to marketing campaigns from auto dealers (with low interest rates and other incentives), or some combination. They also mention pent-up demand from several years of lower-than-normal new sales and thus overdue replacements (and an aging fleet).

Latest macroeconomic data shows a YoY GDP growth rate still in the negative, at -0.4% in Q1 2025, following on from the negative 0.3% of Q4 2024. Inflation is currently at 2.5% and interest rates remain at 4.5%. Manufacturing PMI improved to 51.2 points in May, from 46.2 points in April.

Which BEV models do you think will climb Norway’s sales rankings in the months ahead, and which older models might diminish? Please share your thoughts and perspectives on Norway’s auto market in the comments below.