Sweden's Plugin EV Revolution Continues To March Forward

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Sweden's Plugin EV Revolution Continues To March Forward
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  • 📰 cleantechnica
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July saw plugin electric vehicles take 50.1% market share in Sweden, up from 37.6% year on year.

It’s worth remembering that periodic volume variations, especially in smaller markets, often simply reflect temporary regional allocation decisions, rather than significant demand changes. Most BEVs on sale in Europe are experiencing more demand than supply, and have long waiting lists.The growth pattern of plugin share for 2022 has roughly matched that seen last year, with the Q1 and Q2 peaks still just below the previous Q4 peak.

“Supply issues continue to affect the market, where total consumer demand is still greater than the supply of vehicles. The major disruptions in global supply chains continue to hit the automotive industry hard. We assess that this year’s decline can mainly be attributed to the limited supply, although in recent months we have seen a certain slowdown in the strong demand due to the economic situation” .

Even with general economic pressures, and supply chain uncertainty, plugins’ substantial energy cost savings, and better long term residual values, still make them relatively attractive compared to non-plugins. The large backlog of BEV orders waiting to be fulfilled in the coming months will also help ensure that plugins continue to grow share in 2022.

What are your thoughts on Sweden’s auto market evolution? Please join in the discussion below to share your thoughts and perspective.

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