In Sweden, plug-in electric car market share increased to 50.1% in July from 37.6% in the same month last year. The overall amount of auto sales in July was 17,834 units, up 6% YoY but still 25% below pre-pandemic averages. Volkswagen ID.4 was the full electric vehicle that sold the most.
The total plugin share of 50.1% in July was made up of 23.8% plugin hybrids and 26.3% full electrics (BEVs). In July 2021, these percentages were 15.1% and 22.5%, respectively.
BEVs make up roughly 27% of the market so far this year, and PHEVs 24%. 13.2% (BEV) and 26.5%, respectively, were their respective YTD achievements in 2021. (PHEV). Continuous incentive adjustments, particularly those that take effect in August 2021, have caused BEVs to overtake PHEVs as the dominant vehicle type.
Plugin volumes have risen by about 11% YTD, supporting their robust expansion in relative share, against a backdrop of a 15% YTD decline in overall car market volumes.
All other powertrain types, including plugless hybrids, have seen a decline in market share over the past 12 months (8.4%, down 9.7% YoY and from a peak of 23% in November 2020). Diesels had their lowest market share in the modern era, down from 15.3% Yoy to barely 11%, with 1,965 units (from 2,562 Yoy). By the end of this year, diesels should have a more-or-less permanent market share below 10%.
BEV BESTSELLERS SWEDENS In July, the Volkswagen ID.4 surpassed all other BEVs in Sweden, continuing its total dominance from 2021. The MG ZS and Kia EV6 were ranked second and third, respectively.
The Kia Niro EV, which is typically among the top three and is currently leading the 2022 YTD rankings, had an uncharacteristically quiet month in July, most likely because it was in the midst of a design upgrade.
Given the complexities of shipping, a single month’s performance doesn’t tell us all that much, but we can identify some new competitors. The MG5, one of the most affordable BEVs in Europe, unexpectedly finished sixth. Its younger brother, the MG Marvel R, placed seventh, and the MG ZS came in second. Both did well.
Overall, narrowly ahead of Volkswagen in July, MG was the top brand (a reversal of their positions in July 2021). For a BEV brand that only began shipping to Sweden last year, this is a fantastic outcome. If MG can continue to provide Sweden with all 3 models in a respectable volume, it should rank among the top 3 brands for the entire 2022 calendar year (from 4th in 2021, despite only being on duty in Q2 and Q3).
With 98 vehicles delivered, the new Renault Megane ranked 18th in Sweden during its first full month of sales. Despite the competitive market, anticipate it to rise in volume. The Volkswagen ID.5, which began delivery in May and is a coupe-back version of the ID.4, has recently entered the top 20 for the first time (14th, from 24th in June).
Let’s now zoom out and concentrate on the performance over the last three months:
The top 3 BEV models for May to July are the same as for February to April, despite having somewhat different rankings. The other two filled the void left by the Niro’s fall from first to third. There were a few notable advancements from the prior period further down the ranks:
MG5 MG ZS MG Marvel R Other models experienced the opposite outcome, drastically declining since three months ago:
It’s important to keep in mind that cyclical volume fluctuations, particularly in smaller markets, frequently just reflect transient regional allocation decisions rather than substantial demand changes. The majority of BEVs available for purchase in Europe are in high demand, and there are lengthy waiting lists.
OUTLOOK The plugin share growth pattern for 2022 has mostly followed that of last year, with the Q1 and Q2 peaks being only slightly behind the Q4 peak. In September, new construction can be anticipated, with a share of between 60% and 70%, all else being equal.
However, given the ambiguity of the times we live in, here is what Mobility Sweden has to say regarding the domestic car industry:
The market is currently experiencing supply problems since overall consumer demand continues to outpace car production. The automobile industry continues to be severely impacted by the significant disruptions in global supply networks. Despite the fact that in recent months we have observed a little slowing in the robust demand because of the economic situation, we believe that this year’s reduction may be mostly ascribed to the restricted supply (Mattias Bergman, CEO Mobility Sweden , machine translated).
In spite of supply chain uncertainties and general economic challenges, plugins are still considered to be more desirable than non-plugins due to their significant energy cost savings. Additionally, the substantial backlog of BEV orders that must be serviced in the upcoming months will ensure that plugins continue to gain market share in 2022.
What do you think about the development of the Swedish auto industry? Please participate in the discussion below to offer your ideas and viewpoints.
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