Swedish Auto Market has worsened in May, partially due to factory closures, as Covid-19 infections and deaths were rapidly growing. Indeed, registrations crumbled 50.2% in May at 15.871, declining much faster than April and March. Hyundai and Land Rover were the only positive brands.Swedish Vehicles Market in MayUnlike most European countries, the Swedish Government has not imposed lockdown measures, leaving the public to follow a series of recommendations. As a result, the number of infections and deaths have grown exponentially. Indeed, the car market – which was logically not in deep trouble in the first months of the crisis as car dealerships activities continued – was severely hit in May by some factories’ closures and the stock shortages due to international travel restrictions. Registrations crumbled 50.2% in May at 15.871, declining much faster than April and March. Year to Date figures were dragged down 15.6% to 100.919.On a positive note, rechargeable cars reported a 18.2% growth in May, leading Sweden to the third place in Europe based on rechargeable share behind Norway and Iceland.In May, Hyundai and Land Rover were the only positive performing brands, both gaining 2.4%.Market TrendDespite the Swedish government did not take the decision to shut down economic activities, in March demand was frozen by the negative expectations due to Covid19 effects on the economy and Q1 sales were dragged down 10.5% at 66.154.In April, the industry was still not in troubles like the rest of Europe, but the confirmed infections and deaths have continued to rise steadily, from 4.435 and 180 respectively as of March 31 to 21.589 and 2.697 as of April 30. Indeed, in April, the car market managed to lose “just” 37.4%, at 18.911 units sold.Medium term market directionSwedish vehicles market ended a growing phase in 2017 when the market hit the all-time record with 379.240 sales after a series of four consecutive growing years.The introduction of new fiscal rules aiming to push up the AVF vehicles and reduce the CO2 emission have pulled up the vehicles average price reducing the demand and the market approached a new and declining pathway which is still in place. A bonus/malus system was introduced in July 2018 and has been revised in early 2020.As said, in the last two years the market volume was lower, with 2018 at 353.647 units (-6.7%) and 2019 at 355.585 (+0.6%).In 2020, the change in the bonus/malus tax system calculation – which from the 1st January 2020 is based on WLTP – has logically negatively impacted on the market bringing sales down in double-digit during the first two months, ended with 38.504 sales (-11.7%).Tables with sales figuresIn the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 ModelsThis content is for members only. Visit the site and log in/register to read.
Highlights from Albert Wenger’s World After Capital
Saturday June 20, 2020
Capital is becoming abundant. So we should be able to provide everyone with enough capital to lead a decent life. Attention is replacing capital as the key finite resource. So we must learn how to better save and spend our attention. Knowledge is humanity’s most valuable collective asset. So we should do everything we can […]
Belgium. Peugeot on top of a market reporting a robust recovery in May (-32%)
Tuesday June 16, 2020
Belgium Auto Sales strongly recovered in May, as strict restriction measures were progressively eased during the month. Indeed, 34.752 units were sold in May (-32%), leading Year to Date sales to 167.453 (-31.4%). Peugeot was the best-selling brand, while Toyota registered the best Top 10 performance.Belgium Auto Market in MayBelgium is the World’s worst affected […]
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