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Norway set another record in 2021, and it is about electric vehicles again. Despite the global chip crisis, electric vehicle sales dominated the market and made up 64.5 percent of sales in 2021, which is the highest percentage ever achieved by them.
While Norway, with a population of 5.4 million, has the world's highest proportion of electric vehicles, China with its 1.4 billion people is by far the biggest overall car market.
Tesla said it sold a total of 2,96,850 Model 3 compact cars and Model Y sport-utility vehicles to customers in the fourth quarter.
Getting a head start is very important in any kind of race. And Elon Musk made his move towards vehicle electrification before most companies were even thinking about doing the same. So it's not hard to understand why Tesla is now the largest automaker by market capitalization. But the race isn't over yet.
Analysts said the move – the second price increase in recent weeks – was aimed at addressing a widening gap between capacity and demand.