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Electric cars grab 44% market share in Norway in January – Source Reuters Tech News

An electric Mustang Mach-E car is displayed during its launch in Oslo, Norway November 18, 2019. Picture taken November 18, 2019. REUTERS/Lefteris Karagiannopoulos

OSLO (Reuters) – Electric cars accounted for a 44.3% share of Norway’s new car sales in January, rising year on year but falling short of the 50-60% range the industry forecast for 2020, data from the Norwegian Road Federation showed on Monday.

In January 2019 electric cars made up 37.8% of sales in the Nordic country and climbed in subsequent months to an overall 42.4% market share for the full year.

As it seeks to phase out the sale of combustion-engine cars by the middle of this decade, oil-producer Norway has exempted battery-powered vehicles from taxes imposed on those running on petrol and diesel.

As a result of the policy, Norway has the world’s highest rate of electric vehicle use, making it a valuable testing ground as car makers seek to promote new models.

In January, German auto maker Audi’s (NSUG.DE)…

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Source Reuters Tech News

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