SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Now come cheaper electric cars - "decisive year"

Car sales are expected to pick up a bit more speed this year after a weak 2024. And more affordable models of electric cars are expected to regain lost market shares. It's a new segment that's coming in 2025, says Mattias Bergman, CEO of Mobility Sweden.

» Published: January 02 2025

Now come cheaper electric cars - "decisive year"
Photo: Christine Olsson/TT

The number of new registrations of passenger cars in 2024 ended at the lowest level in ten years, according to figures from the industry organization Mobility Sweden.

The decrease compared to the previous year landed at 7 percent, with a clear decline for electric cars. The number of electric cars fell by 16 percent, while there was a slight increase for plug-in hybrids, 3 percent. This also broke the trend of reduced carbon dioxide emissions from the vehicle fleet.

Setback for electric cars

For 2025, Mobility Sweden's prognosis is 275,000 new registered passenger cars, a small increase compared to the outcome for 2024 (269,498). The share of electric cars is expected to land at 40 percent, the same level as in 2023 and up from 35 percent in 2024.

Behind the expected increase in the share of pure electric cars is a strengthened private household economy and the fact that several new, cheaper electric car models are on their way to the market.

In our internal order book, we see that the electric share increases somewhat, says Sofia Linder, chief economist at Mobility Sweden.

From electric cars being mainly aimed at affluent villa owners with good private charging opportunities, the market is moving towards a slightly broader mass. In recent years, electric car manufacturers have targeted the mid-volume segment, with price classes around half a million.

New segment coming now

What's coming this year is a new budget or volume segment. They call them the 25,000 euro cars. There are quite a few models that will be rolled out during the year. On the Swedish market, they are around 300,000 kronor, says Mattias Bergman.

But for it to succeed, better charging opportunities are required for car owners living in apartment buildings, according to Bergman.

Another reason that may press prices somewhat on electric cars is the emission requirements on car manufacturers in the EU: The average emission per manufactured car must decrease, otherwise, fines are threatened. This forces car manufacturers to get better at selling electric cars.

We've already seen in 2024 that there have been many campaigns. And it's very possible that there will be many campaigns also during 2025. For 2025 is a crucial year to get the emissions down, says Mattias Bergman.

Tags

TTT
By TTThis article has been altered and translated by Sweden Herald

More news

This is how it went for the "party Swedes"

This is how it went for the "party Swedes"

The US stock market rose for the second day in a row

The US stock market rose for the second day in a row

Swedish drug candidate classified in the USA

Swedish drug candidate classified in the USA

Oil price rises after Trump's threats against Iran

Oil price rises after Trump's threats against Iran

Up to 7,500 jobs away from Audi

Up to 7,500 jobs away from Audi

USA's retail trade below expectations

USA's retail trade below expectations

Klarna's giant deal in the USA - "game changer"

Klarna's giant deal in the USA - "game changer"

OECD: Trump's Trade War Slows Down the Global Economy

OECD: Trump's Trade War Slows Down the Global Economy

The Stockholm Stock Exchange closed up

The Stockholm Stock Exchange closed up

These educations give you a job

These educations give you a job

Cheerful start on Asia's stock exchanges

Cheerful start on Asia's stock exchanges

Egg smuggling to the USA increases sharply

Egg smuggling to the USA increases sharply

Vance believes Tiktok will meet the deadline

Vance believes Tiktok will meet the deadline

This is how China will get the economy going

This is how China will get the economy going

China's Green Energy Boom - Like 320 Nuclear Reactors

China's Green Energy Boom - Like 320 Nuclear Reactors

They worked 28 days too much per year.

They worked 28 days too much per year.

New Chinese AI - "Better and Cheaper"

New Chinese AI - "Better and Cheaper"

Got a burn on the knee – gets $50 million from Starbucks

Got a burn on the knee – gets $50 million from Starbucks

Major Bank: Risk of Interest Rate Hike Before Summer

Major Bank: Risk of Interest Rate Hike Before Summer

Multiple Countries are Hesitant about F-35 – Want European Alternative

Multiple Countries are Hesitant about F-35 – Want European Alternative

Klarna warns ahead of listing: "No guarantees"

Klarna warns ahead of listing: "No guarantees"

Northvolt shock hits struggling housing market

Northvolt shock hits struggling housing market

Ica's CEO on the Left Party leader's boycott: "Very sad"

Ica's CEO on the Left Party leader's boycott: "Very sad"

The Food Boycott Spreads on Tiktok - "On Their Knees"

The Food Boycott Spreads on Tiktok - "On Their Knees"

Greece no longer junk status: "The final step"

Greece no longer junk status: "The final step"

Skellefteå's Demand: The Government Must Act

Skellefteå's Demand: The Government Must Act

Record outflow from US funds – opting for Swedish

Record outflow from US funds – opting for Swedish

Wall Street rises – after a pitch-black week

Wall Street rises – after a pitch-black week

Klarna registers for stock exchange listing in New York

Klarna registers for stock exchange listing in New York

Auditors secretive about Northvolt

Auditors secretive about Northvolt

Northvolt appealed to the government for support

Northvolt appealed to the government for support

Trade ahead of crisis meeting: No Swedish phenomenon

Trade ahead of crisis meeting: No Swedish phenomenon

Trump's Tariff Policy Scares US Consumers

Trump's Tariff Policy Scares US Consumers

Mediation can resolve dispute over major gold find

Mediation can resolve dispute over major gold find

Crisis Meeting on Food Prices Next Week

Crisis Meeting on Food Prices Next Week

EU and USA in Trade Talks

EU and USA in Trade Talks

Tesla warns about Trump's tariffs

Tesla warns about Trump's tariffs

The Gold Price Exceeds the Dream Limit

The Gold Price Exceeds the Dream Limit

New Chief Designer Sinks Gucci on the Stock Exchange

New Chief Designer Sinks Gucci on the Stock Exchange

USA asks Sweden and Denmark for help in the egg crisis

USA asks Sweden and Denmark for help in the egg crisis