Mathilde Carlier
Research Expert covering transportation and logistics
Electric vehicles in Finland - Statistics & facts
In October 2024, Finland abstained during a closed vote on the European Union’s tariffs on Chinese-made electric vehicles. Finland has a close trading relation with the Asian EV giant, which is among its five leading import partners. Worries surrounding a potential commercial retaliation from China regarding EU-imposed EV tariffs have therefore contributed to Finland taking a lukewarm approach to the issue, like many other member states. None of the 10 best-selling electric car brands in the Nordic country were from a Chinese brand, but Chinese-made cars represented nearly 22 percent of the EU fully electric vehicle market.
The Finnish electric vehicle fleet, including plug-in hybrid electric vehicles (PHEVs) and battery-electric vehicles (BEVs) has been steadily growing over the past years, while the country’s petrol and diesel fossil fuel car fleet has been decreasing. This shift in Finland’s passenger car fleet is partly the result of changing sales: In 2023, BEVs were the second most popular propulsion type for new registrations behind petrol cars, overtaking petrol PHEVs for the first time.
To adapt to this growing electric vehicle fleet and its needs, the country has also expanded its charging network. September 2023 forecasts projected the volume of public EV charging stations to reach around 10,600 by 2028, continuing its growth trajectory.
As of February 2024, small petrol cars remained the most affordable for individuals, based on estimates for the cost of car ownership across 10 years. Small BEVs were around 6,600 euros pricier than their petrol internal combustion engine counterparts. In this context, purchasing incentives might be crucial to ensure new car sales are electric.
The Finnish electric vehicle market expanded through 2023, relying on European brands and a growing charging infrastructure to support this increase. However, economic factors have led to lower car purchasing intentions, which could impact the market’s growth rate.
The Finnish electric vehicle fleet, including plug-in hybrid electric vehicles (PHEVs) and battery-electric vehicles (BEVs) has been steadily growing over the past years, while the country’s petrol and diesel fossil fuel car fleet has been decreasing. This shift in Finland’s passenger car fleet is partly the result of changing sales: In 2023, BEVs were the second most popular propulsion type for new registrations behind petrol cars, overtaking petrol PHEVs for the first time.
Market expansion relies on European brands
While BEV sales in Finland more than doubled between 2022 and 2023, reaching over 29,500, the 2023 PHEV sales struggled to recover from the drop recorded in 2022. The American brand Tesla was the most popular battery-electric vehicle brand based on new registrations, but Volvo, due to its high PHEV sales, led the entire electric vehicle market. In fact, most of the market leaders in Finland were European brands: Volkswagen and Volvo ranked second and third on the BEV market, and six of the ten PHEV bestsellers were also from the region.To adapt to this growing electric vehicle fleet and its needs, the country has also expanded its charging network. September 2023 forecasts projected the volume of public EV charging stations to reach around 10,600 by 2028, continuing its growth trajectory.
Lower purchase intentions could slow the market
Despite the sales increases recorded in the past years, an important factor threatens to slow the expansion of the Finnish EV market: A Statista Consumer Insights survey from October 2023 to September 2023 reported that just over six in 10 online consumers in Finland had no intention to purchase a car in the 12 months following the survey, whether new or used, and nearly one in 10 Finnish consumers was exclusively planning to purchase a new car during that same period. This low purchase intention across the passenger car market could affect electric vehicle sales, particularly as Finland has been contending with inflation rates over six percent in 2022 and 2023.As of February 2024, small petrol cars remained the most affordable for individuals, based on estimates for the cost of car ownership across 10 years. Small BEVs were around 6,600 euros pricier than their petrol internal combustion engine counterparts. In this context, purchasing incentives might be crucial to ensure new car sales are electric.
The Finnish electric vehicle market expanded through 2023, relying on European brands and a growing charging infrastructure to support this increase. However, economic factors have led to lower car purchasing intentions, which could impact the market’s growth rate.
