Saturday January 25, 2020
Home Business Sales of E-Ca...

Sales of E-Cars in Norway Hit a New Record: Experts

E-Car Sales in Norway Reach Record High

0
//
E-cars
New models of e-cars arriving on the market should help push their share higher still this year. Pixabay

Sales of new electric cars in Norway hit a record high last year, sector experts said Friday, reaching 42.4 percent of all nearly-registered cars in 2019, mostly thanks to strong demand for Tesla’s Model 3.

Norway, a major oil producer that has pioneered electric mobility, offers a very advantageous tax regime for clean vehicles, making them highly competitive in cost terms against petrol and diesel vehicles.

New e-car models arriving on the market should help push their share higher still this year, said OFV, a body which monitors Norway’s car market.

In 2019, 60,316 all-electric new cars were sold in Norway out of a total of 142,381, a rise of 30.8 percent from the previous year when the market share of e-cars was 31.2 percent.

The Norwegian car importer association said it expects e-cars to take a market share for new cars of 55 to 60 percent in 2020.

New models including the Volkswagen ID.3, the Ford Mustang Mach-e, the Polestar 2 and the Peugeot e-208 are expected to boost e-car sales.

NORWAY E-cars
E-cars are being charged on a street in the Norwegian capital Oslo. VOA

“Today, in 2020 and in the years to come, a much larger range of cars is coming, with increased autonomy, greater size and in affordable price segments,” said OFV boss Oyvind Solberg Thorsen.

U.S. firm Tesla was the biggest single seller of e-cars in Norway last year, with its latest Model 3 alone selling 15,700 units.

Bigger goals

Norway’s Electric Vehicle Association called the numbers “very positive” but told AFP it had hoped for e-cars to account for 50 percent of new car sales last year.

The association’s secretary-general, Christina Bu, called on the government to maintain tax breaks for electric cars, which have become the topic of much debate in the Scandinavian country.

Norway, where electricity is almost exclusively generated by hydropower, has a 2025 target for all new cars to be zero-emission models.

Also Read-Aim is to Become World’s Biggest Hotel Chain: Oyo

Hybrid cars, which run on both thermal and electric energy, accounted for 25.9 percent of the new car market in Norway last year, while petrol and diesel cars accounted for around 16 percent each. (VOA)

Next Story

India Becomes the Second Largest Smartphone Market After China: Report

India surpasses US to become 2nd largest smartphone market

0
Smartphone
The Indian smartphone market surpassed the US for the first time on an annual level. Pixabay

New Delhi: Riding on Chinese brands, the India smartphone market surpassed the US for the first time on an annual level and this is the latest science and technology news, becoming the second-largest smartphone market after China globally — reaching 158 million shipments in the calender year 2019 with 7 per cent (YoY) growth, a report from Counterpoint Research said on Friday.

While Xiaomi continued to be the top player with 28 per cent market share in the calendar year 2019, Samsung was second with 21 per cent and Vivo at 16 per cent market share, said Counterpoint’s ‘Market Monitor’ service.

Smartphone
India has now become the second-largest smartphone market after China globally. Pixabay

“Although the rate of growth for smartphone market hit single digit for the first time ever on an annual basis, India is underpenetrated relative to many other markets with 4G penetration in terms of subscribers being around 55 per cent,” said Tarun Pathak, Associate Director, Counterpoint.

“Chinese brands share hit a record 72 per cent for the year 2019 as compared to 60 per cent share a year ago.

“This year, we have seen all major Chinese players expanding their footprint in offline and online channels to gain market share. For instance, Xiaomi, realme, and OnePlus have increased their offline points of sale while brands like Vivo have expanded their online reach with Z and U series,” said Anshika Jain, Research Analyst at Counterpoint.

Over the past four years, Xiaomi, Vivo, and OnePlus have grown 15 times, 24 times and 18 per cent, respectively.

“This highlights that OEMs are mature enough to capture next wave of growth and expand their operations in India,” Jain added.

Smartphone
Although the rate of growth for smartphone market hit single digit for the first time ever on an annual basis, India is underpenetrated relative to many other markets with 4G penetration in terms of subscribers being around 55 per cent. Pixabay

Samsung shipments remained almost flat (YoY) while it has shown a 5 per cent (YoY) decline in 2019.

“This is for the first time Samsung transitioned to a completely new portfolio targeting different channels (offline with A series and online with M series). However, it needs to double down its efforts to keep the momentum going,” the report noted.

While the smartphone market registered YoY growth, the feature phone market witnessed a steep decline of nearly 42 per cent YoY in 2019 and 38 per cent (YoY) in Q4 2019.

Also Read- Amazon’s Music Streaming Service Hits 55 Million Subscribers Globally

“This is due to slowdown in the new shipments from Reliance Jio. However, the players such as itel, Lava, Nokia and Micromax registered positive annual
growth despite the overall segment declined showing the untapped potential of the market,” said the report.

In fact, itel emerged as the number one feature phone brand in Q4 2019, followed by Samsung and Lava. (IANS)