Tesla sales in Norway rise 213% year-on-year in May

IXChapman Portfolio Management

OSLO (Reuters) -Tesla's (TSLA) sales of new cars in Norway rose by 213% in May from a year ago to 2,600 vehicles, registration data showed on Monday,

The electric vehicle maker's sales got a boost from a revamp to its Model Y compact SUV, the country's best-selling automobile in each of the last three years.

Sales rose by 8.3% year to date, compared with the first five months of 2024.

NasdaqGS - Nasdaq Real Time Price

•

USD

Tesla, Inc. (TSLA)

346.46

-11.97

(-3.34%)

At close: May 30 at 4:00:01 PM EDT

339.12

-7.34

(-2.12%)

Pre-Market: 5:09:43 AM EDT

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Nine out of ten new cars sold in Norway last year were fully electric vehicles, and the EV share of sales year-to-date stands at 92.7%, the Norwegian Road Federation said, bringing it close to a goal of phasing out diesel and petrol automobiles.

Tesla, which has seen declining sales in Europe this year amid CEO Elon Musk's embrace of far-right politics, offers zero-interest loans in Norway and several other countries to buyers who take delivery of a new Model Y by the end of June.

Meanwhile, Tesla's new car sales in Sweden fell 53.7% in May from a year earlier to 503 vehicles, registration data from Mobility Sweden showed on Monday.

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