15,771 new battery-powered vehicles hit the Nordic roads in the third quarter of 2016. As a result, the total stock has increased with 45% in the first 9 months of 2016. The increase is primarily fueled by new record sales in Norway, Sweden and Finland. In addition, Denmark had its best sale since fourth quarter last year and Finland has reached the same level as Denmark.
Sales of EV and PHEVs (plug-in electric vehicle hybrids) has set a new record the third quarter of 2016 and now more than 145,000 electric cars are on the streets in the Nordic countries. This is stated in the recently published edition of the industry publication Insero Quarterly, which presents the latest development in sales of battery-powered vehicles in the Nordic countries. A noteworthy event in the third quarter is the introduction of the new Tesla Model X, which has positively affected sales in the Nordic countries:
“Compared to same period last year the SUV segment saw a sales increase of 38% in the third quarter of 2016, which is mainly due to a massive registration of the new Tesla Model X in Norway and Sweden”, Søren Bernt Lindegaard, consultant at Insero explains.
In total 967 of the Tesla Model X were sold in the third quarter of 2016 across the Nordic countries, where the Norwegian and Swedish market dominated with massive sales of respectively 601 and 129 cars in September alone. However, the Tesla Model S sales have decreased with 39% indicating cannibalization among Tesla models.
Norway continues to dominate the Nordic market
The Norwegian EV market is continuously growing, and once again delivered its best quarter ever. However, following the trend in the first three quarters of 2016, it seems like the EV sale is stabilizing in Norway. Norway continues to represent 75% of the total sales of battery-powered cars in the Nordic countries.
Sweden and Finland also delivered their best quarter ever. Both countries have sold more EVs in 2016 than in 2015 totally. Plugin hybrids continues to be popular in Sweden and accounts for 77% of the Swedish market.
Finland has more than doubled its sales in the first three quarters of 2016 compared to same period in 2015 with a growth rate of 105%. The Finnish market is also driven by plugin hybrids, which accounted for more than 84% of sales in the third quarter.
Sale in Denmark increased with 154% compared to last quarter
Denmark experienced a stagnation in sales in the first two quarters of 2016, but is now in the third quarter back to a decent level. The sale in the first three quarters has dropped with close to 20% compared to the same period last year, but it is still a significant improvement compared to the second quarter of 2016. Furthermore, Danish politicians have discussed the possibility of introducing a new green car rebate of up to 5360€ for the first 1000 vehicles sold to private customers. Such an initiative is expected to positively affect the sales in Denmark.
Insero Quarterly: The latest market insights every quarter
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