Norway’s car dealers suffered another dramatic fall in new car sales last month. They were down 29.4 percent in September compared to the same month last year, and prospects for the months ahead are poor.
Only 10,342 new cars were registered in Norway last month, with the decline linked to higher interest rates, rising car costs and household budget tightening in general. Fuel prices also remain high, at around NOK 25 per liter (roughly USD 10 per gallon).
“There are few signs that car sales and registrations will climb during the last few months of the year,” Øyvind Solberg Thorsen of traffic organization OFV told news bureau NTB.
Electric cars continue to account for the majority of car sales in Norway. Fully 87 percent of all new cars regiestered in September were electric cars, even though they’re losing many of the tax incentives that sparked their popularity over the past decade.