10/09/2013 03:51 pm ET

Tesla Is Now The Top Selling Car in Norway (VIDEO)

Tesla Motor Inc.’s electric Model S is now the top-selling car in Norway, boasting 5.1 percent of all car sales, only two months after being on the market.

Demand for electric cars has soared in Norway as a result of a plethora of government incentives. On highways, electric vehicles are given access to express lanes and are exempt from tolls. The government also provides re-charging stations and free parking for electric car owners.

The Telsa has a top speed of 125 miles per hour and a range of 300 miles. In Norway’s notoriously pricy car market, the Tesla Model S sells for about 110,000 dollars, well above its 70,000 dollar price tag in the U.S.

Tesla sales in Norway have become so competitive that many car buyers are re-selling recently purchased Tesla cars at up to 20,000 dollars above the starting price.

The cars are also a success in the U.S., with an estimated 14,300 sales made this year alone. Shares of the Palo Alto-based company have already risen more than 400 percent this year.


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