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Declining Car Sales in Norway: Impact of Economy, Interest Rates, and Electricity Prices

At the end of August, sales of new cars in Norway were three percent behind last year, reports the Road Traffic Information Council. At the same time, the car industry is concerned that new interest rate increases, high electricity prices and the generally high price increase will affect the market this autumn.

In July, OFV summarized that new car sales had a relatively normal scope. The status for August is a failure of just over 10 per cent compared to the same month last year.

Car sales are affected

So far this year, the number of new car registrations is around three percent behind last year. But OFV adds that a tighter economy influences the choice when buying a car. The exact national figures are that 11,083 new passenger cars were registered in August (-10.4%). So far this year, 85,155 new passenger cars have been delivered. That is 3.3 percent fewer than in the same period in 2022.

The national figures show that of the new passenger cars registered for the first time so far this year, the proportion of electric cars is 83 per cent. While the number of new diesel and petrol cars is almost completely fixed, new plug-in petrol hybrids and hybrids account for approx. 13 percent of new car registrations.

Usually, the rate of registration for new cars increases beyond the autumn, but now there is little indication that this will be the case this year, OFV predicts about the last five months of the year.

Stays up

In Salten (registrations in Bodø police district), the status is that so far this year, 976 new passenger cars have been registered for the first time. There are only 30 cars less than in 2022. This gives a slight decrease of 2.99 per cent. In other words, exactly the same as the national figure.

In Salten, 254 Teslas have been sold so far this year. This gives this car brand a 26.2 percent market share. Behind Tesla follow Toyota (132), VW (76), Skoda (68) and BMW (60).

2023-09-02 16:39:41
#Car #sales #remain #high #Salten

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