Car ownership in Norway is becoming more expensive. How did electric cars fare?
The cost of owning a car has increased in Norway. An analysis of a report prepared by OFV (Norwegian Road Traffic Advisory Board) shows that price hikes have affected all vehicle owners, regardless of the type of drive. The main reasons are higher interest rates, more expensive insurance, increased taxes, as well as higher service and parts costs.
The popularity of electric cars is growing thanks to consumer choices, government policy, and the gradual reduction in sales of other models.
Fot. Shutterstock, za: OFV
The biggest increases have affected owners of petrol, diesel, and plug-in hybrid cars. From January and April 2025, both list prices and one-off purchase taxes have risen for these vehicles, and car loans have become more expensive due to high interest rates.
For electric cars, the situation is different. Some models have become cheaper, and manufacturers and dealers have introduced numerous promotions and discounts. The market has shifted from a seller's market to a buyer's market, which further supports falling prices for electric vehicles.
For electric cars, the situation is different. Some models have become cheaper, and manufacturers and dealers have introduced numerous promotions and discounts. The market has shifted from a seller's market to a buyer's market, which further supports falling prices for electric vehicles.
Electric vs. petrol: Here’s how the cost differences look
The annual cost differences are clear. An electric car priced at NOK 350,000, with an annual mileage of 15,000 km, generates an expense of about NOK 99,000 per year. For a petrol car in the same class, the amount is already NOK 113,000, which is about NOK 14,000 more.
In the premium segment, the differences are even greater. An electric car worth NOK 1 million costs about NOK 229,000 per year, while a petrol car at the same price reaches NOK 254,000, which is over NOK 25,000 more. A large part of the total costs is the vehicle’s loss of value, which ranges between 35 and 50 percent annually.
In the premium segment, the differences are even greater. An electric car worth NOK 1 million costs about NOK 229,000 per year, while a petrol car at the same price reaches NOK 254,000, which is over NOK 25,000 more. A large part of the total costs is the vehicle’s loss of value, which ranges between 35 and 50 percent annually.
Cost comparison: car price NOK 550,000, with an annual mileage of 15,000 kmOFV press materials
Electric cars dominate in Norway
The market structure and consumer preferences are also changing. In the lower price segments, new diesel and plug-in hybrid models have virtually disappeared from the offer, while the availability of electric cars is increasing.
More and more models offer long range and fast charging, making them attractive to a wider group of customers. As a result, Norwegian policy goals aiming for the dominance of electric cars are gaining additional support thanks to these market changes.
More and more models offer long range and fast charging, making them attractive to a wider group of customers. As a result, Norwegian policy goals aiming for the dominance of electric cars are gaining additional support thanks to these market changes.
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