Forecast: Output of Motor Vehicles in Norway

Based on the forecasted data, the output of motor vehicles in Norway is expected to rise from 12.0 billion NOK in 2024 to 12.98 billion NOK in 2028. To contextualize these figures, the output stood at 11.75 billion NOK in 2023, indicating a continuing growth trajectory.

Year-on-Year Variations:

- From 2024 to 2025: 2.08% increase

- From 2025 to 2026: 2.04% increase

- From 2026 to 2027: 1.92% increase

- From 2027 to 2028: 1.89% increase

Last Two Years Variations:

- The output grew by 2.08% from 2024 to 2025 and by 2.04% from 2025 to 2026.

CAGR (2023-2028): The output of motor vehicles is forecasted to grow at a compound annual growth rate (CAGR) of approximately 2.07% over the next five years.

Future trends to watch for include the increasing adoption of electric vehicles, government incentives for sustainable transport, and advancements in automotive technology which will likely drive further growth in the motor vehicle output sector in Norway.