Sweden EV market sees rising used prices and new registration growth

The Swedish automotive market is experiencing significant shifts in both new and used vehicle segments. In the used car market, there is a notable shortage of electric vehicles (EVs). Data from Blocket indicates that dealers are selling nearly twice as many used EVs as they are acquiring, leading to a 44 percent decrease in inventory since the conflict regarding the Strait of Hormuz began. Consequently, used EV prices have risen by approximately 5 percent since June, reversing a previous trend of declining prices.

Popular models seeing significant inventory drops include the Kia Niro, MG ZS, and Volvo XC40. The Tesla Model Y remains the most sold used EV in Sweden, with 673 units sold in August.

Regarding new vehicle registrations, total passenger car registrations in Sweden rose by 12 percent in August compared to the previous year. The electric vehicle segment saw a substantial increase of 49 percent. Rechargeable vehicles, comprising both EVs and plug-in hybrids, accounted for 65 percent of all new passenger car registrations, while petrol and diesel vehicles made up 20 percent and 6 percent, respectively.