Tesla Model 3 Is The Best Selling EV In Norway So Far In 2021

Tesla Inc TSLA had record deliveries for the first quarter of 2021, a seasonally weak quarter for the auto industry. The company beat the previous record deliveries set just one quarter earlier at the end of 2020. And Tesla can partially thank Norway for this record-setting quarter.

What Happened: According to InsideEVs, Tesla registered more EVs than any company in Norway in March of 2021, just shy of the company's previous record set a few months earlier in December. Tesla registered 2,169 Model 3 in Norway in March, compared to second place belonging to the Volkswagen ID.4 with 856 registered vehicles in the same timeframe.

Tesla is also the number one registered EV in Norway year to date, with 2,566 registered vehicles, compared with the Audi E-tron with 1,782 registered YTD.

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Why It Matters: Some analysts claim despite Tesla's record deliveries, the company is facing an impending demand cliff. They believe Tesla is reaching a point where it will not be able to find new customers to purchase its vehicles, but this data from Norway shows the opposite.

Some may be confused when initially looking at Tesla's deliveries in specific areas of the world. Although the first two months of the quarter looked weak, Tesla shipped most cars into the country for delivery in the last month of the quarter, catapulting it to first place for 2021 so far. This is a strategy the company uses to get the most cars to the most places in the most efficient way possible.

Benzinga's Take: To say Tesla has a demand problem by picking any one specific example is missing the forest for the trees. Tesla just made its appearance on the list of the top 50 most valuable brands in 2020, and 2021 is sure to see the company move higher up the list.

To date, the company is battery constrained and sells every car it makes. 2021 is off to a great start, and it seems the company will continue its rapid growth throughout the year.

Photo courtesy of Tesla.