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Sweden May 2024: Tesla (-56.2%) implodes, Volvo XC60 distant leader

Volvo XC60 sales are up 49.6% in May.

New car sales in Sweden drop a harsh -11.9% year-on-year in May to 25,094 units, leading to a year-to-date tally down -4.9% to 106,893. The main event this month is the freefall of BEV sales at -34.7% year-on-year to just 7,614 units and 30.3% share vs. 40.9% a year ago. This is to be attributed to a poor result from Tesla as we’ll see below. In contrast petrol sales are up 7.4% to 6,258 and 24.9% share vs. 20.5%. PHEVs skid -2.5% to 5,824 and 23.2% share vs. 21% and HEVs soar 41.5% to 2,878 and 11.5% share vs. 7.1% in May 2023. Year-to-date, BEVs are off -20.8% to 32,880 and 30.8% share vs. 36.9% over the same period last year, petrol is up 5.2% to 25,848 and 24.2% share vs. 21.9%, PHEVs gain 10.1% to 25,690 and 24% share vs. 28% and HEV are up 7.8% to 10,585 and 9.9% share vs. 8.7%.

In the brands charts, Volvo (+12.1%) once again lodges a strong performance with 20.5% share vs. 18.5% so far this year. Volkswagen (-8.5%) falls slightly slower than the market to 11% share just as Toyota (+10.5%) and most impressively Mercedes (+42.6%) shine. Peugeot (+27.4%) is the only remaining Top 10 brand in positive with Tesla (-56.2%) imploding and Audi (-35%), Skoda (-30.8%), Kia (-20.9%) and BMW (-15.6%) all in great difficulty. Cupra (+91.5%) excels at #11 with Seat (+54.4%), Subaru (+35%) and Dacia (+30.9%) also very dynamic.

Model-wise, the Volvo XC60 (+49.6%) is a distant leader at 4% share and slips into the YTD top spot as a result. The Volvo XC40 (-31.7%) suffers at #2 but not as much as the Tesla Model Y (-55.6%) cratering at #3 and losing its YTD pole position. The Volvo S/V60 (+53.6%) is also very solid at #4 and Volvo plates four models in the Top 4 as it did last month with the EX30 at #5. Notice also the outstanding performances of the VW Tiguan (+215.8%), Toyota Corolla Cross (+178.6%) and Peugeot 3008 (+177.3%).

Previous month: Sweden April 2024: Volvo places 4 models in Top 5, sales up 6.7%

One year ago: Sweden May 2023: Tesla Model Y #1, Polestar 2 up to #5

Full May 2024 Top 58 All brands and Top 284 All models below.

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