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Manufacture of motor vehicles revenue in Norway 2010-2022

Over the past few years, motor vehicle manufacturing has declined considerable in Norway, owing to high production costs, increased tariff rates and high worker wages. As a result, many manufactures have either shut or shifted base to other low cost economies, resulting in a decline in industry revenues. Majority of the domestic demand is now being fulfilled through imports. In fact, in 2019, vehicles worth 10.4 billion U.S. dollars were imported, accounting for over 12 percent of the country’s overall import share, according to data from worldstopexports.com. Among the top selling car brands include Volkswagen, Tesla, Toyota, BMW and Volvo.

Leading importer of electric cars worldwide

In 2018, Norway imported electric cars worth 2.3 billion U.S. dollars, making it the largest importer of electric cars in the world. In fact, in 2018, nearly half of all cars sold in the country were electric, including both battery (BEV), as well as plug-in hybrid (PHEV) cars. Experts predict that the number of electric cars in the country will exceed one million by 2030. The U.S. is one of its major import partners.

Manufacture of motor vehicles revenue in Norway from 2010 to 2022

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Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

The industry classification is based on the NACE Rev. 2 - system in Norway. The industry “manufacture of motor vehicles“ has the code “C291“.

Details on the methodology can be found here.

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Statistics on "Economic Outlook Norway"

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