Norway’s auto market in November 2023 falls for the fourth time after growing for 3 consecutive months, with 12,728 new sales (-41.1%). YTD figures at 137,114 are still down and have dropped 14.0% from the previous year. Tesla continues its selling streak maintaining the first place in best-selling brands (+48.7%).
Market Trend and Outlook
The Norwegian auto market in November 2023 falls for the fourth time after growing for 3 consecutive months, with 12,728 new sales (-41.1%). YTD figures at 137,114 are still down 14.0% from the previous year.
Looking at cumulative data up to November 2023 brand-wise, Tesla becomes the new leader rising 2 spots with 23,637 total sales (+48.7%) in front of Volkswagen with 20,389 units sold (-2.8%) and Toyota in 3rd with 18,777 car registrations (-10.3%).
Mercedes maintains 4th with 8,265 sales (-29.4%) followed by Volvo – up 1 spot- at 7,625 (-11.7%), Skoda -up 2 spots- at 7,223 (-10.6%) and Ford -up 3 spots- with 6,788 registrations (-2.7%).
BMW -down 3 spots- ranks in 8th with 5,385 sales (-48.5%), in front of Nissan -up 5 spots- with 5,048 units sold (+50.7%) and Hyundai -down 1 spot- closes the top 10 with 4,887 total sales (-36.5%).
Looking at specific models the Tesla Model Y is on top of the rankings with a 69.3% year-on-year increase in sales, followed by the Volkswagen ID.4 down 33.1%.
Medium-Term Market Trend
The auto market in Norway from 2010 to the start of 2013 maintained a general uptrend, taking sales from 154,158 in 2010 to 165,910 by the end of 2012. In 2013 at 167,013 sales the car market started a 5 year growth, reaching higher all-time highs 3 years in a row. 2018 and 2019 were losing years for the Norwegian market that fell respectively 21.5% and 7.1% culminating 2019 at 142,429.
The arrival of the pandemic didn’t effect sales in Norway that had the best performing market in Europe, falling only 0.2% to 141,467 sales.
The year of 2021 brought a boom in the market, that grew back up to 176,199 sales, but the momentum came to a halt in following year with sales falling 2.3% to 200,840 by the end of 2022. A combination of factors are behind the current industry struggle: the disruption in the global supply chain caused by a lack of raw materials, in particular for the production of microchips and Governments push towards Evs (by 2025 all cars and light vehicles in Norway must me zero-emission vehicles).
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and Top 10 models.