DIAGNOSIS Yes, normal. It's the protective oil coating on the internal metal heating element and chamber burning off. Not the plastic housing.
FIX Run the appliance empty at maximum temperature (200C/390F) for 30 minutes. Do this 2-3 times. Ensure your kitchen is well-ventilated. The smell will diminish and disappear completely after a few full cooking cycles.
IF THAT DIDN'T WORK If a strong, acrid plastic smell persists after 5+ cycles, check for any packaging material or protective film you may have missed. Remove the pan and basket and inspect the entire cooking chamber for stickers or foam.
HEADS UP Do not confuse the normal burning-oil smell with smoke from food debris. Always clean the pan and basket after use. Fat drippings left in the pan will smoke and burn on the next preheat.