New and used cars, transport vehicles and heavy trucks

In the Car Business, Bilia new and used cars, transport vehicles and trucks. A sale often leads to financing, insurance, servicing, wheel storage and other services during the ownership period.

Availability of new cars  as once again at agood level in 2025, and delivery times for new cars have now normalised. Demand for new cars did not pick up during the year in the way that had been expected at the beginning of 2025. The lower demand was attributable to our private customers, who were affected by the continued economic and geopolitical uncertainty. However, in the latter part of the year, we saw a somewhat higher demand for new cars from these customers. Demand from our corporate customers, who account for about 60 per cent of our new‑car sales, remained stable. The number of registered cars in Norway in 2025 was the highest ever, positively impacted by changes in tax regulations.

In Norway, registrations were 40 per cent higher than the previous year. In Sweden, registrations were in line with the previous year, which from a historical perspective was lower than the average of the past ten years. Registrations in Luxembourg were also in line with the previous year, while registrations in Belgium decreased by 8 per cent compared with the previous year.

Deliveries of new cars in the Car Business, adjusted for acquired and divested operations, were 8 per cent higher for the Group compared with the previous year. In Norway, underlying deliveries of new cars increased by as much as 36 per cent, while underlying deliveries in Sweden increased by 1 per cent. In Western Europe, deliveries of new cars were 8 per cent higher
than the previous year.

Deliveries of used cars, adjusted for acquired and divested operations, were in line with the previous year. Demand for used cars remained strong during the year, but there was some shortage of used cars compared with the previous year. For the sixth consecutive year, however, more used cars than new cars were delivered to our customers.

Demand for new cars, and especially electric cars, varied during the year. The expected economic upturn stalled due to geopolitical uncertainty, which affected demand for new cars. Order intake for new cars, adjusted for acquired and divested operations, nevertheless increased by 25 per cent, mainly driven by Norway, where underlying order intake rose by just over 50 per cent compared with the previous year.

Luxembourg and Belgium also reported higher order intake, up 5 and 14 per cent respectively. The strong order intake in Norway was partly explained by changes in tax regulations. The order backlog amounted to 13,516 cars compared with 11,132 cars previous year. The higher order backlog was attributable to Sweden and Norway and the strong order intake during the second half of the year. Deliveries of rechargeable cars continued to increase in Norway and Western Europe during 2025.

In Sweden and Luxembourg, deliveries of rechargeable cars were higher compared with the previous year, while the share of electric cars remained at the same level. In Belgium, both the share of rechargeable cars and fully electric cars increased. Demand for electric cars was affected by customer uncertainty regarding the future market value of electric vehicles.

In the total markets of our operating countries, the share of registered rechargeable cars (electric cars and plug‑in hybrids) and electric cars amounted to: Sweden 74%, Norway 99%, Belgium 56% and Luxembourg 64%.