EV Market Share Growing Fast In Top Electrifying Countries
In January, I wrote about the inspiring electric vehicle adoption trends in 4 top electric vehicle (EV) markets — Norway, Iceland, the Netherlands, and Sweden. I wasn’t planning to provide an update on these countries until at least the end of the 1st quarter, but the results in February were so uplifting that I decided to jump the gun.
Compared to the 56% EV market share of 2019, Norway showed 68% EV market share in February.
Compared to 25% EV market share in 2019, Iceland had 37% EV market share in February.
Sweden jumped from 11% EV market share in 2019 to 26% EV market share in February.
Only the Netherlands saw a decline, going from 15% EV market share in 2019 to 12% EV market share in February. (The Dutch market had strong incentives that faded out on January 1st, so there was an extreme pulling forward of demand that saw EV market share rise to 54% in December! The Tesla Model 3 had more than twice as many sales as the #2 Volkswagen Polo fossil-fueled vehicle in all of 2019.)
I’m going to share a graph and some charts now, but be forewarned that they break some basic rules of chart-making. The EV market share shown is by year until the end, at which point I switch to February 2020 market share. Since EV market share tends to rise at the end of the year, though, the graph and charts should look better by the end of 2020 than they do here.
Note: The charts above are interactive. They may not show well on some devices. If they don’t show well for you, I advise viewing them on a different computer (preferably one that doesn’t fit into your pocket).
The above data show a 12 percentage point increase in market share in both Norway and Iceland, a 15 percentage point increase in market share in Sweden, and a slight 3 percentage point drop in the Netherlands — and I assume the Netherlands will see increasing growth in EV market share as the year goes on, probably raising 2020 EV share to well above the 15% 2019 conclusion.
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