Summary
- January auto sales in Sweden saw plugin EVs at 51.6% share, with BEVs at 28.8% and PHEVs at 22.7%
- An anomaly in the market was seen due to an unusual surge in vehicles classified under "other fuels"
- Plugless hybrids saw significant growth YoY, while ICE-only cars declined in volume
- Sales volume for plugins grew YoY, but the drop in market share was due to competition from ethanol powertrain vehicles
- The Europe-wide emissions tightening rules in 2025 are expected to lead to steady growth in the EV market in Sweden
Article
In January, auto sales in Sweden saw plugin electric vehicles (EVs) holding a 51.6% share, with battery electric vehicles (BEVs) at 28.8% and plugin hybrids (PHEVs) at 22.7%. This was slightly lower than the previous year, but overall auto volume increased by 14% year-over-year. The Volkswagen ID.7 was the best-selling BEV in the country for the month.
An anomaly in the January market was a surge in “other fuels” vehicles, mainly running on ethanol, due to a regulation change that increased their tax burden. This surge was a pull-forward tactic before the rule change, and it is expected that this category will see a decline in the coming months. Additionally, plugless hybrids saw a 67% year-over-year growth, indicating a shift towards more sustainable options.
Despite a slight drop in market share, plugin EVs actually saw an increase in sales volume year-over-year. With Europe-wide stricter emission rules in effect for 2025, it is anticipated that BEVs will see overall growth not only in Sweden but also in regional markets.
The best-selling BEVs in Sweden in January included the Volkswagen ID.7, the Volkswagen ID.4, and the Tesla Model Y. Newcomers like the Kia EV3 and the Cupra Tavascan showed promising performance, steadily climbing in ranks. The market also saw the debut of new models such as the Opel Grandland X and the Renault 5, which garnered some interest from consumers.
Looking at a 3-month perspective, the Tesla Model Y continued to dominate the market, but newcomers like the Kia EV3 and the Cupra Tavascan were climbing up the ranks. The overall outlook for the Swedish auto market is positive, especially with the anticipated growth in the BEV segment, driven by the tightening emission rules in Europe in 2025.
Despite some short-term fluctuations, the growth in the auto market reflects positively on the Swedish economy. With steady GDP growth, low inflation, and reduced interest rates, there are favorable conditions for the transition to electric vehicles. As the year progresses, it is expected that the EV market will continue to expand, with potential for new models to perform well and contribute to the ongoing cleantech revolution.
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