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Sweden Hits New Record With Massive 36.2% Plugin Market Share In October

October in Sweden saw a huge new record of 36.2% plugin electric vehicle market share, up 3x from 12% in October 2019. As usual, plugin hybrids made the largest contribution, though the 8.2% share of pure electrics was very substantial in its own right. The full year result is now tracking to reach at least 30%.

October in Sweden saw a huge new record of 36.2% plugin electric vehicle market share, up 3× from 12% in October 2019. As usual, plugin hybrids made the largest contribution, though the 8.2% share of pure electrics was very substantial in its own right. The full year result is now tracking to reach at least 30%.

 

Of the 36.2% combined plugin result, almost three quarters was contributed by plugin hybrids (PHEVs) at 28%, and the remaining 8.2% came from full battery electrics (BEVs). For the cumulative year-to-date tally, PHEVs stand at 21% whilst BEVs are at 8% for a combined 29%. This is up from an 11% cumulative tally at this point in 2019.

The PHEV best sellers were again dominated by homegrown Volvos and the very popular Kias, in line with recent months. Looking at the best sellers in the BEV category, we find the Polestar 2 leading the pack for the first time (thanks in part to Tesla not having a timely Model 3 shipment for the month):

The Polestar 2 continues its progress despite suffering significant teething problems involving two recalls since its launch in the summer, which CEO Ingenlath said he was “saddened by” in a recent interview with die Welt. Scaling up BEVs is of course a learning curve, and Polestar is embracing the challenge.

Polestar 2. Image courtesy Polestar.

PHEVs will see their incentives slightly reduced following changes in this year’s autumn budget, which combined with more variety and lowering costs of BEVs, and improving DC charging infrastructure, should lead to a rebalancing of the BEV vis-a-vis PHEV share in 2021 and onwards.

Industry association BIL Sweden still expects a combined plugin market share of over 30% for the full year 2020. This now seems like a safe bet, as both September and October have trended substantially above 30% share, and November and December almost inevitably will also.

 

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Max is an anthropologist, social theorist and international political economist, trying to ask questions and encourage critical thinking about social and environmental justice, sustainability and the human condition. He has lived and worked in Europe and Asia, and is currently based in Barcelona. Find Max's book on social theory, follow Max on twitter @Dr_Maximilian and at MaximilianHolland.com, or contact him via LinkedIn.

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