Nearly 16,000 Plug-Ins Sold In Nordic Countries For Q3. Tesla Model X Cannibalizing Model S?
Plug-in electric car sales in Nordic countries increased to 15,771 registrations for the third quarter according to an Insero report, while the total number of plug-ins on the streets exceeded 145,000.
According to the Insero Quarterly, the recently arrived Tesla Model X positively influenced sales throughout the Nordic countries (967 units in Q3).
However there is an indication of some cannibalization by the Model S, which saw its sales decrease by 39% over the same period.
“In total 967 of the Tesla Model X were sold in the third quarter of 2016 across the Nordic countries, where the Norwegian and Swedish market dominated with massive sales of respectively 601 and 129 cars in September alone. However, the Tesla Model S sales have decreased with 39% indicating cannibalization among Tesla models.”
Whether the Model X really cuts into Model S sales is a question only time will tell, as Tesla’s production timing and batching program (by model and trim) designed to optimize end of quarter results for electric vehicle sales in the region is well known.
This specialized production batching means that the start of Q4 results (for October) yields fairly meaningless numbers that we can’t yet draw any conclusions from, as deliveries once again plummeted into mere rounding anomalies.
For example, Norway still lead the pack in October, but registrations fell all the way back to 84 Model X/39 Model S deliveries. Ultimately, it will be December that tells us the Model X vs Model S sales story.
In general, Norway represents 75% of all Nordic plug-in sales, but EV adoption in other countries is now accelerating:
“Sweden and Finland also delivered their best quarter ever. Both countries have sold more EVs in 2016 than in 2015 totally. Plug-in hybrids continues to be popular in Sweden and accounts for 77% of the Swedish market.
Finland has more than doubled its sales in the first three quarters of 2016 compared to same period in 2015 with a growth rate of 105%. The Finnish market is also driven by plugin hybrids, which accounted for more than 84% of sales in the third quarter.
Sale in Denmark increased with 154% compared to last quarter
Denmark experienced a stagnation in sales in the first two quarters of 2016, but is now in the third quarter back to a decent level. The sale in the first three quarters has dropped with close to 20% compared to the same period last year, but it is still a significant improvement compared to the second quarter of 2016. Furthermore, Danish politicians have discussed the possibility of introducing a new green car rebate of up to 5360€ for the first 1000 vehicles sold to private customers. Such an initiative is expected to positively affect the sales in Denmark.”