Car sales plummeted this year following the outbreak of the coronavirus. Countries like France and China resorted to electric cars to promote an eco-friendly system in the automotive industry. These cars have taken over the falling market share of gasoline cars. For instance, Tesla became the most valuable car manufacturer beating Toyota in terms of market share with a value of $1330.
Norway witnessed a rise in the sales of new vehicles up to 48% from the initial average of 43.5% in the previous two years. This value is possible because of the low tax rates, free parking charges, and low toll charges on roads. This percentage is the best for EV sales in this first of the year. This statement by the Norwegian Road Federation is valid with the agency revealing that the shelter-in-place measures due to the novel coronavirus pandemic are impeding the sales for now. It bolts down to the fact that the most sold car is the Audi e-Tron electric vehicle.
Norway is currently the leading market for electric cars, followed by Iceland, Netherlands, and Sweden. The International Energy Agency (IEA) reports that electric vehicles command 3 percent of the global new cars inclusive of plug-in hybrids.
The electric car owners’ representative, the Norwegian Electric Vehicle Association, says that the slow transition to electric vehicles is because the parliament is timid in passing the laws regarding zero emissions. The deputy leader of the agency Petter Haugneland says that to achieve the country’s zero-emissions goal, the percentage share of electric cars must exceed 50% by December of this year. This goal is achievable though it is hectic with the slowly reopening market. This goal by Norway is to fulfill their part in the climate change plan labeled the Paris Agreement.
IEA’s energy and transport analyst Marine Gorner reiterates that the EV market is the less affected of all in the automotive industry, with customers opting to buy them. She said in an interview with CHN that the real scale of the coronavirus impact in the automotive sector is uncertain but predictable with the car sales figures in the preceding months when the virus was rampant.
To conclude, many countries have been championing for electric vehicles. For example, China is releasing the new electric cars from paying the 10 percent purchase tax in the coming two years. On the other hand, France is giving subsidies, which can enable customers to obtain a Renault Zoe with a discount of up to €12000. However, the United States is backing up the fossil fuel industry by relenting its firm stand on emission regulations.