The market for new cars remained at a historically high level during 2019, although slightly below the previous two years. Demand for used cars was very strong, and for the first time more used cars than new cars were delivered.
In Sweden, sales of electric and hybrid cars increased in 2019, which is related to new tax regulations aimed at increasing the proportion of eco-friendly vehicles on Sweden’s roads. In Norway too the demand for electric cars remained high, also as a result of tax regulations. In Germany, there continues to be stiff competition among the domestic brands for new cars. In Belgium and Luxembourg the market remained strong overall in 2019, but the premium segment that includes BMW saw somewhat weaker development.
Sales of new cars are expected to remain at historically high levels in 2020, if slightly lower than in the previous three years. The slowing of the prevailing economic boom may impact negatively on sales of new cars, but may also have the opposite effect on sales of used cars, which tend to improve in a market with lower new car sales.