Summary
- December saw plugin EVs take 62.8% share in Sweden, with BEVs at 40.8% and PHEVs at 22.0%
- Overall auto volume in Sweden was 26,237 units, down by 10% YoY, with the Tesla Model Y being the best selling BEV
- In 2024, Sweden saw a decline in overall auto sales, with powertrain shares shifting towards HEVs and petrol-only vehicles
- The EU-zone vehicle emissions regulations will see fleet average CO2 emissions drop by 15% in 2025
- Legacy automakers have been keeping BEV prices high in Europe, slowing down the EV transition and preventing broader adoption of electric vehicles
Article
In Sweden, December 2024 saw plugin electric vehicles (EVs) capture a 62.8% market share, with full battery-electric vehicles (BEVs) at 40.8% and plugin hybrids (PHEVs) at 22.0%. Total auto volume was 26,237 units, down by 10% year-on-year. The Tesla Model Y remained the best-selling BEV for the eighth consecutive month. The overall auto market in 2024 had 269,500 sales, down by 7% from the previous year, with powertrain shares showing a decline in BEVs and a small increase in PHEVs compared to 2023.
The trends in the Swedish auto market showed a negative shift for BEVs with a 3.7% reduction in market share, while PHEVs showed a slight increase. This led to an overall 1.4% drop in plugin EV market share, while hybrid electric vehicles (HEVs) and petrol-only vehicles gained share. The removal of the BEV purchase incentive in late 2022 was initially thought to be a factor in the weak 2024 performance, but other issues such as consumer fatigue, rising BEV prices, and competition from other powertrains also played a role.
Despite December’s decline in volume for BEVs and PHEVs compared to the previous year, there is optimism for the future with the tightening EU-zone vehicle emissions regulations in 2025. These regulations aim to lower fleet average CO₂ emissions by 15% compared to 2021 levels, pushing automakers to prioritize cleaner vehicles. Legacy automakers have been criticized for keeping BEV prices high to protect their past investments in ICE vehicles, hindering the transition to electric vehicles in Europe.
The best selling BEVs in December included the Tesla Model Y, Volvo EX30, and Volkswagen ID.7. Other notable performers included the Polestar 2, Kia EV3, and Cupra Tavascan. Looking ahead to 2025, with the EU’s tighter emission regulations, there is a focus on which models will make a splash in the market. Despite challenges in the Swedish economy and consumer confidence, there is hope that stricter regulations will drive the EV transition forward.
As the EV market in Sweden and Europe faces challenges, including the deceptive practices of legacy automakers, there is a call for more affordable BEVs to accelerate the transition to cleaner vehicles. The year 2025 holds promise for the EV market with emerging models and increasing awareness of the importance of reducing emissions. The discussion on the future of EVs in Sweden and Europe continues, as consumers and policymakers navigate the shift towards sustainable transportation.
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