The Swedish Vehicle Manufacturers’s Association ( Mobility Sweden) showed figures for October on a bounce back.
Mobility Sweden See a Market Bounce
Light Commercial Vehicles were up by 7.1 per cent on October 21, Heavy trucks up by 24.2 per cent. However, s public procurement programme pushes bus registrations up by 562.5 per cent in October – a variance of 92.9 per cent on the previous year.
Mobility Sweden noted that electric truck sales accounted for 9 per cent of the market in October, and 12 per cent in the year to date.
The political and economic instability in the world contributes to continued major disruptions in the global supply chains, which in turn creates a large gap between orders and production in the automotive industry. There is also a shortage of important key components. The combination of production disruptions, increased energy prices, increased costs for input goods and transport, a weak krona and the general unrest affects the Swedish vehicle market with both longer delivery times and higher costs.
In recent weeks, in the customer dialogue, we have seen a significant slowdown in demand, which is due to the macro situation. This, together with households’ gloomy view of their own finances, is a cloud of worry for the vehicle market, says Sofia Linder, Chief Economist at Mobility Sweden.