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Saturday, August 13, 2022

Rise in car sales signals continued confidence

Norwegians bought more cars last month than they did in July of last year. Economists view the rise as a sign  that consumer confidence remains high despite some government warnings that tougher times may be in store.

A total of 50,846 cars were purchased in July, 11,920 of them brand new and 38,926 used. The numbers from the state agency monitoring vehicular traffic (Opplysningsrådet for Veitrafikken, OFV) show a net rise of 731 new car sales over those last July and an increase in new car registrations of 2 percent so far this year, a positive economic indicator at a time when new car sales elsewhere in Europe have fallen sharply.

The numbers also show a steady increase in the numbers of Norwegians choosing electric or hybrid vehicles. Newspaper Aftenposten reported that 1,972 new electric cars have been registered in Norway this year, more than double the amount last year.

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