Norwegian Cars Market in 2016 hit the fourth increase ina row ranking as the World’s 42nd, despite the severe headwinds the economy is facing since the global oil market crisis.EVs segment kept booming hitting a new record.
Market Outlook
The expected slight acceleration in the economy in Q4 comes on the back of the authorities’ efforts to mitigate the severe headwinds the economy has faced since the global oil market crisis. It has also adjusted monetary policy to face the difficult environment of subdued investment in petroleum extraction: Norges Bank has kept the key policy rate at a record low of 0.50% throughout the year, after cutting it in early 2016.
According to data released by the Opplysningsrådet for Veitrafikken AS, the Norwegian Road Federation, the total new cars passengers sold in December had been 13.602, up 4.0%.
The domestic cars market in 2016 posted the new all time record with 154.603 units, improving 2.6% from the previous year and scoring the fourth increase in a row, third time above the 150.000 registrations.
As regard the light commercial vehicles, the market hit the best performance of the last nine years with 35.877 sales (+7.9%), still far over 10.000 units from the 2007 record.
The Total light vehicles figures of 190.480 units in the 2016 was the World’s 42nd, up two spots.
Competitive Arena
In the 2016 Volkswagen kept the leadership with over 26.000 units (+0.9%), while among the highest growths of the year there were BMW, Mercedes, Mitsubishi, Audi and Opel. The best performances were reported by DS and Jaguar (+238.7%).
Jeep hit the sharpest slowdown, losing 47.2%, followed by others remarkable losses recorded by Fiat, Land Rover, Subaru and Honda.
The Volkswagen Golf was the best-selling model with 13.148 units (+19.8%), while in 2nd place was the Mitsubishi Outlander with 5.687 (+43.8%) ahead of the Toyota RAV4 with 4.955 (+32.0%).
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 models.
