Nordic sales of plug-in hybrid electric vehicles are speeding up

Nordic sales of plug-in hybrid electric vehicles are speeding up

 

With Nordic record sales of plug-in hybrid electric vehicles in the fourth quarter of 2017, we are facing a future in which even more people own a vehicle with a power socket. In addition, the Nordic sale of electric vehicles reached a quarter of a million sold units with the Swedish sales gaining on the Norwegian.

 

The sales of electric vehicles in the fourth quarter of 2017 confirmed that plug-in hybrid electric vehicles have gained a strong foothold in the market. A total of 16.311 plug-in hybrid electric vehicles (PHEVs) were sold in 2017’s fourth quarter, which is 3.005 more vehicles than the previous quarter. In comparison, 11.329 battery electric vehicles (BEVs) were sold, reports the industry publication, Insero Quarterly, which presents the latest developments in the sales of electric vehicles from the Nordic countries.

 

Download your own copy of Insero Quarterly here.

 

With the newest numbers, we clearly see that plug-in hybrid electric vehicles are becoming more popular across the Nordic countries. They are already the preferred type of electric vehicle in Sweden and Finland, and they are almost as popular as battery electric vehicles in Norway and Denmark. This is the result of competitive vehicle prices due to favourable political terms as well as many new, interesting models from the car manufacturers,” assesses Jens Christian Morell Lodberg Høj, Chief Innovator of E-Mobility at Insero.

 

The best sold plug-in hybrid electric vehicle of the quarter was the Volkswagen Passat GTE with 2.111 registrations, while the Volkswagen E-Golf was the best-sold battery electric vehicle with 2.260 registrations. Thus, it is no surprise that Volkswagen was the car manufacturer who sold the highest number of electric vehicles in the fourth quarter of 2017 and ended with a market share of approximately 20%.

 

The Nordics pass 250.000 sold electric vehicles

Despite a sale of battery electric vehicles that was not as prominent as previously seen, the collective Nordic sales of electric vehicles reached a new record. 27.640 electric vehicles were sold in the Nordic countries in the fourth quarter of 2017. This is an increase of more than 25% compared to the third quarter of 2017 which previously held the highest number of sales. The increase in sales resulted in a total of 250.000 sold electric vehicles during the last eight years.

 

In addition to the general increased interest in electric vehicles, 2017’s fourth quarter underlines that taxes and regulation incentives play a major role in the sales of electric vehicles. For example, Denmark saw a notable rise in the sale of plug-in hybrid electric vehicles following the latest changes in registration tax,” explains Jens Christian Morell Lodberg Høj.

 

Sweden is gaining on Norway 

With the latest sales numbers of electric vehicles, it can be concluded that Sweden is gaining on Norway. In the fourth quarter of 2017, Sweden broke the previous sales record and sold 6.676 electric vehicles. Thus, Sweden accounts for approximately 22% of the collective Nordic electric vehicles sales. Nonetheless, Norway is still in the lead with 73% of the collective Nordic sales in 2017’s fourth quarter and sold 19.427 new electric vehicles.

 

The progress in Sweden is, to a large degree, the result of Volvo’s entrance to the electric vehicle market. The giant, Swedish car manufacturer has committed itself to the production of plug-in hybrid electric vehicles and faces an exciting 2018 with new car models,” says Jens Christian Morell Lodberg Høj.

 

Towards a greener future 

Volvo is a good example of how more and more car manufacturers are realising that the electric vehicle market is relevant. Therefore, there are high expectations for the sales in 2018.

 

There are many new, interesting vehicles to look forward to in 2018 which we expect will positively influence the collective Nordic sales of electric vehicles. It would not be a surprise if the Nordics as a region experience a 30% increase in the sales,” the E-mobility expert Jens Christian Morell Lodberg Høj predicts and adds:

 

Moreover, we expect that December 2018 will be the month with the highest sale of electric vehicles. This is due to following years’ uncertainty regarding tax regulations which prompts car dealers to get as many vehicles sold as possible before the new year.”

 

About Insero Quarterly

Are you interested in staying up to date with the development in the Nordic EV and PHEV market via the latest sales statistics and the newest trends? Sign up for a free subscription to the industry publication Insero Quarterly here and have it sent directly to your inbox. You can also receive the publication by contacting Jens Christian Morell Lodberg Høj at jclh@insero.com.

 

In each publication, we zoom in on a topic within e-mobility. In this edition of Insero Quarterly, you get the latest insights on Light Electric Vehicles (LEVs) and their potential impact on urban mobility. 

 

Download your own copy of Insero Quarterly here.