Forecast: Ownership of Passenger Cars in Sweden

Analyzing the ownership of passenger cars in Sweden from 2013 to 2023, we observe a general upward trend with sporadic fluctuations. The value stood at 480.65 units per thousand persons in 2023. Year-on-year variations show minimal growth in recent years, highlighting a slowing pace (e.g., 0.2% in 2023).

From 2013 to 2017, ownership climbed steadily with notable increments (e.g., 0.85% in 2016). However, the period between 2018 and 2020 experienced minor declines and soft rebounds. The CAGR over the last five years leading to 2023 averaged around 0.082% annually, indicative of a generally stable market with minor overall growth.

Looking ahead, forecasts suggest a continued modest rise in vehicle ownership, with a forecasted 5-year CAGR of 0.13% and an expected growth of 0.66% by 2028. This steady growth, though minimal, suggests sustained demand but also indicates market saturation.

Future trends to watch for include:

• The impact of increased environmental regulations and the adoption of electric vehicles on car ownership patterns.
• Potential economic factors or policy changes influencing affordability and thus ownership rates.
• Technological advancements in autonomous driving and shared mobility services that may reduce the necessity of individual car ownership.