Obtain the data you need to make the most informed decisions by accessing our extensive portfolio of information, analytics, and expertise. Sign in to the product or service center of your choice.
The Swedish passenger car market has seen demand retreat further
during April. According to data published by trade association BIL
Sweden, registrations declined by 11.6% y/y to 30,253 units in
April. Overall, the Swedish passenger car market has now slipped by
14.4% y/y to 104,133 units in the year to date (YTD). Meanwhile,
registrations of light commercial vehicles (LCVs) with a gross
vehicle weight (GVW) of less than 3.5 tonnes declined again, by
15.4% y/y to 4,061 units in April, leading to a decline in the YTD
of 20.6% y/y to 14,115 units. However, sales of heavy commercial
vehicles (HCVs) with a GVW of more than 16 tonnes improved by 11.6%
y/y to 644 units in April, helping it further into positive growth
territory in the YTD with a gain of 8.1% y/y to 2,158 units.
Significance: After several years of gains, the
Swedish light-vehicle market shifted in the middle of last year
following the end of a push of non-WLTP compliant vehicles and the
introduction of a new CO2-based bonus-malus system. BIL Sweden's
CEO, Mattias Bergman, has said previously that around 64% of
vehicles sold last year were in the first half before its
introduction. However, the introduction of the bonus-malus scheme
is having a positive impact on the market, as it boosts the market
for plug-in vehicles and notably fully electric vehicles (EVs). The
market share of such vehicles reached 4.5% during last month,
versus 1.1% during April 2018. EVs saw a particularly large
increase due to new models coinciding with this support. This has
led the trade association to lift its forecast for such vehicles to
a share of 24% of the market during 2020 and 30% during 2021,
compared with the previous forecast of 19% and 25% respectively. It
also expected the share to reach around 13% this year. As for the
wider market, IHS Markit anticipates that passenger car
registrations will fall approximately 5% y/y to 336,000 units in
2019, with further declines to come as the market corrects after a
period of extended highs. We also see the LCV category falling back
over the next few years, beginning in 2019 with a fall of 12.6% to
49,800 units.
Read more articles like this one. Get a free trial to AutoIntelligence Daily
The above article is from AutoIntelligence Daily by IHS Markit. Every working day, AutoIntelligence Daily provides about 30 articles focused on automotive news, events and trends. Get a free trial.
