Swedish car market up 13% thanks to compact cars and SUVs
More than 26,800 new cars were registered in Sweden in February 2016, up by 13% compared to the same month of last year. The growth was driven by the rising demand of compact cars and SUVs, the two most popular segments in this market. YTD data shows that total registrations jumped from 44,100 units during the first two months of 2015 to 48,500 in January-February 2016.
Volvo led the market in February with 21% market share, up from 20% share in February 2015, and 18.8% in February 2014. Volvo registrations grew by 18% to 5,623 units. Volkswagen, meanwhile, posted the only fall among the top 10 with registrations down by 1% at 14% market share. BMW occupied the third position in the ranking with 6.4% market share, and ahead of Kia which got very close with a registrations increase of 44%. The Korean car maker was able to increase its market share from 5% in February 2015 to 6.39% during last month, and outsell Toyota and Audi. Toyota lost two positions falling from the third place in February 2015 (6.3% market share) to the fifth in February 2016 (6.2% market share). Other big improvements include Mazda (+72%), Seat (+42%), Ford (+25%) and Renault (+23%). On the other hand, Nissan, Citroen and Mitsubishi posted double-digit falls.
The market by segments shows the compact cars ahead with 26% market share, up by 3 percentage points over February 2015. Registrations of C-Segment cars climbed 22% following strong increases posted by the Volvo V40 (+65%), Toyota Auris (+84%) and Audi A3 (+85%). SUVs were the second largest segment with 23.8% market share, and registrations up by 28%. Despite the fall posted by the Volvo XC60, the country’s best-selling SUV, the segment benefitted from the surge on registrations of the Kia Sportage (+179%), Nissan Qashqai (+24%) and the new Volvo XC90 at fourth place. Registrations for Midsize sedan/SW segment fell by 11% reducing their market share from 20.6% in February 2015 to 16.1% one year later. The reason for this is the big drop posted by the VW Passat (-27%), Volvo V60 (-6%) and BMW 3-Series (-13%), the three best-selling D-Segment cars.