As Tesla stalls across Europe, sales rise in Norway / Photo: Petter BERNTSEN - AFP/File
NYSE - LSE
| CMSD | 0.42% | 22.16 | $ | |
| JRI | 0.34% | 12.96 | $ | |
| CMSC | 0.23% | 22.12 | $ | |
| RBGPF | -2.22% | 67.5 | $ | |
| SCS | 3.14% | 10.52 | $ | |
| BCE | -1.55% | 21.94 | $ | |
| BCC | 2.85% | 87.6 | $ | |
| RYCEF | 1.29% | 12.035 | $ | |
| NGG | -0.84% | 71.33 | $ | |
| RIO | -1.24% | 58.85 | $ | |
| GSK | -2.95% | 40.46 | $ | |
| VOD | -0.97% | 10.3 | $ | |
| AZN | -0.15% | 71.82 | $ | |
| BP | -0.02% | 29.56 | $ | |
| RELX | -0.96% | 54.06 | $ | |
| BTI | 2.05% | 46.34 | $ |
As Tesla stalls across Europe, sales rise in Norway
Tesla sales have rebounded in Norway this year, official figures showed Monday, bucking a broader European trend as consumers turn away from Elon Musk's electric car brand.
Norwegians have flocked back to the US brand as it offered zero-interest loans and a new Model Y, the best-selling car in the country for three months running.
Norway is the country with the highest proportion of election vehicles (EV), making up 93.9 percent of new car registrations in May, according to the Norwegian Road Federation (OFV).
EVs made up 92.7 percent of new car registrations in the first five months of the year.
Tesla regained the title of leading car brand in the Scandinavian country in May, tripling its sales and accounting for 18.2 percent of new cars sold.
For the first five months of the year, Tesla sales increased by 8.3 percent -- lower than the overall new car market which grew by 30.6 percent.
Over that period, Tesla had a market share of 12.9 percent, second to German auto giant Volkswagen.
Tesla sales fell by half in the European Union in April, according to the European Automobile Manufacturers' Association (ACEA).
The company's EU market share dropped to 1.1 percent amid growing competition from Chinese rivals and consumers protesting Musk's politics and ties to US President Donald Trump.
"Looking at Tesla sales in Norway in May and for the year so far, we stand out from the rest of Europe, where sales of this brand have seen a noticeable decline," OFV director Oyvind Solberg Thorsen said in a statement.
Jonathan Parr, an analyst at used-car dealer Rebil, told broadcaster TV2 that "ultimately, it's the price that Norwegian motorists care about most."
"Norwegians don't like Musk but feel no shame owning a Tesla," Parr explained.
In recent months, Norwegian media have nonetheless reported several stories of Tesla owners deciding to part ways with their cars or refrain from buying another Tesla.
Norway, the largest oil producer in Western Europe, has adopted a goal that this year all new cars should be zero-emission vehicles.
G.Lenaerts --JdB
