Iceland October 2018

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27% Share!!!

Sales are growing moderately in Iceland (+22%) this year, but because the mainstream market is dropping significantly (13% this year, and over 20% in October), the PEV shares are jumping through the roof, with October hitting an amazing 27% PEV share and the 2018 now at 18%.

Considering that the other advanced EV market, Norway, is experiencing a similar behavior, with moderate PEV growth (+21% YoY) and a sales drop in the mainstream auto market (-5%), we are starting to see a trend, that can be replicated in other markets, as once markets hit some 15% market share, plugin sales slow down to 20-30% growth rates, while at the same time, the mainstream market starts to shrink, as regular buyers realize that fossil fueled vehicles are becoming dinosaurs.

While we do not have the models breakdown of the mainstream market, we can give you some revealing statistics on how the 27% share is impacting the mainstream market, if the best selling brand in October, Toyota, has a small input from plugins (4 units out of 125), the Second Best Selling Brand, Volkswagen, had 44% of all its sales coming from PEVs, while the Third, Nissan, had 74% of all its sales coming from electric vehicles!

Doing an estimate of the 3 Best Selling Vehicles last month, i would say it might have been something like this:

#1 - Mitsubishi Outlander PHEV - 66 units;
#2 - Nissan Leaf - 47 units;
#3 - Toyota Yaris - 44 units.

As proven by what has been showed above, Toyota's future looks bleak, as their hybrid models are losing the race to plugins, and PEVs are a residual part of the brand fuels mix.

But back at the PEV models ranking, the Mitsubishi Outlander PHEV continues as strong as ever, having already surpassed last year record (884 units), and with two months still to go, it looks that we will see it reach some 1.000 units in 2018, which would be a first for any model in this market.

In the remaining podium positions, the #3 Nissan Leaf is getting closer to the Volvo XC90 PHEV Silver medal, with the Japanese hatchback confirming its status as the best selling BEV.

The VW e-Golf delivered 26 units last month, its best performance ever, allowing it to reach the Fifth Spot, switching places with its VW Golf GTE sibling, which is a good picture to show the recent uptick of BEVs in this market, that represented 35% of all plugins in October, 4% more than the 31% average of 2018.

Elsewhere, the Audi A3 e-Tron is the new #8, while the Renault Zoe recovered the #14 spot from the Hyundai Ioniq Electric, becoming the new Bronze medalist in the BEV ranking.

In the brands ranking, Mitsubishi (29%) is  in the leadership, followed by the  #2 Volvo (17%), while the #3 Volkswagen (12%) is keeping a close eye on the #4 Nissan (9%).


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