The number of petrol passenger cars in Sweden has shown a continuous decline over the years, with actual values dropping from 3.1585 million in 2013 to 2.8619 million in 2023. This represents a significant decrease. Each year from 2013 to 2023 recorded year-on-year percentage decreases, except for a modest increase in 2020. Over the last two years, 2022 and 2023 saw declines of 0.96% and 0.84%, respectively. The compound annual growth rate (CAGR) over the past five years has been -0.19%.
Looking forward, forecast data from 2024 to 2028 indicate a continuance of this downtrend, with a predicted CAGR of -0.67% leading to a 3.31% total reduction over the five-year period.
Future trends to watch for include:
- Increasing adoption of electric and hybrid vehicles due to environmental concerns and favorable government policies.
- Potential market disruptions from advancements in vehicle technology.
- Shifts in consumer preferences possibly further accelerating the decline in petrol passenger cars.
