Meet Your Global Electric Vehicle Market Leader: Norway

According to the latest research, Norway continues to lead the global electric vehicle/plug-in hybrid vehicle (EV/PHEV) market.

The study, conducted by IHS Automotive, a global provider of data services, show that in first quarter 2015, Norway ranked first on the new IHS Automotive Plug-in Electric Vehicle Index, which ranks the market share of plug-in electric vehicle (EV) and plug-in hybrid electric vehicle (PHEV) registrations in a given quarter for eight countries.

With EV/PHEVs representing one third of new vehicles registered in Norway during the first quarter of this year, Norway leads the first quarter rankings with just over 8,000 units, and achieved a 41 percent increase in volume over the same period in 2014. No import taxes on EVs, among other incentives, have made these vehicles a viable alternative to internal combustion engine (ICE) vehicles in Norway.

The Volkswagen e-Golf was the dominant model among consumers in Norway during the first quarter, the analysis says. The Netherlands experienced the second largest growth in electric vehicle share in the first quarter, with more than 5,700 units registered, representing 5.7 percent of the market during the quarter.

The U.S. and China led all countries based on volumes of new EV/PHEVs registered during the quarter, with nearly 15,000 registrations in the U.S. and nearly 13,000 registrations in China.

“While the federal tax credit in the U.S. of up to $7,500 USD for plug-in electric vehicles is continuing to encourage sales across the country, the adoption of these vehicles has been uneven, as consumer consideration and choice has skewed in favor of states offering additional incentives, like the Clean Vehicle Rebate Project in California or Georgia’s Zero Emission Vehicle Tax Credit,” said Ben Scott, senior analyst – IHS Automotive. “In addition, low fuel pump prices are adversely influencing EV/PHEV purchases among U.S. consumers.”

Market share for EV/PHEVs in the U.S. remains low, with these vehicles accounting for just .8 percent of the market during the quarter, according to IHS. Based on volume, the most popular EV/PHEV in the U.S. is the Tesla Model S. Other countries do not offer the same advantages for consumers. As an example, in Germany, there aren’t many appealing incentives for consumers to make EV/PHEVs a compelling alternative to internal combustion vehicles. Although plug-in vehicle registrations in Germany increased by 98 percent between Q1 2014 and Q1 2015, the increase comes from a small base.

Category: General Update, Green