Hyundai Motor Company’s first dedicated electric vehicle, the Ioniq 5, introduced to the global market this year, started selling in Norway and ranked third in new car sales last month. Norway is a fiercely competitive electric vehicle market ahead of the world’s first ban on sales of internal combustion engine vehicles in 2025.
According to the Norwegian Public Roads Authority and the Road Traffic Information Commission (OFV) on the 8th, 488 units of the Ioniq 5 were sold in Norway last month. It ranks third after Ford’s Mustang Mach E (898 units) of the US and Enyak of Skoda, Czech Republic (558 units). All 1st and 3rd places are electric vehicles.
This is the first time that the IONIQ 5 has been included in OFV statistics, the official data of the Norwegian government. Hyundai Motor sold 886 units in Norway in July in addition to the Kona, which it sold previously, making it the fourth-largest selling brand after Ford, Volkswagen and Toyota. OFV evaluated that “Ioniq 5 had a good (sale) start”.
Norway, with a population of 5.4 million, had a new car market of 141,412 last year, which is 7.3% of Korea (about 1.91 million). It is not a member of the European Union (EU). However, the global electric vehicle industry sees it as a prelude or scale for the US and EU markets, which declared the transition to electric vehicles in the 2030s. This is because the demand for eco-friendly vehicles is particularly high. Among new cars sold in Norway between January and July of this year, electric vehicles accounted for 58% and hybrid vehicles accounted for 32%.
Norway is not a car producer, but the government has been implementing an electric vehicle-friendly policy since the 2000s by replacing public sector vehicles such as cleaning trucks with electric vehicles and giving electric vehicles the right of way for public transport. The economic power of the people is also sufficient, with a GDP per capita of $67,294 (approximately 77.12 million won) in the 2020 World Bank tally, ranking fourth in the world.
Norwegian consumers are choosing a car according to the electric vehicle era instead of the standard of the internal combustion engine era. Ford of the United States sold only 1,833 units in Norway from January to July last year, but during the same period this year, it sold 5,476 units thanks to strong sales of the Mustang Mach E, a sports utility vehicle (SUV), beating Mercedes-Benz, Audi, and Nissan in 7th place. became a brand. Polestar, a Volvo-affiliated electric vehicle specialist, is solidifying its position as a major brand with its SUV Polestar 2 ranking in the top 10 in sales. Like the Ioniq 5, they all secure a spacious interior space, and are evaluated as having excellent product features such as fast charging speed and a driving range of 400 km.
Hyundai Motor has not been preemptively selling internal combustion locomotives in Norway since this year. Although the number of models sold has decreased to six, it plans to respond to market changes by launching competitive electric vehicles. Kia also started selling its first dedicated electric vehicle, the EV6, in Norway last month. Professor Kim Pil-soo of the Department of Future Automobile at Daelim University said, “The strong sales of Ioniq 5 in Norway, where the electric vehicle market has been established early, are very positive. I see it as a good thing.”