The forecast for motor vehicles turnover in Norway, expressed in Million Euros, shows a consistent downward trend from 2024 to 2028. The turnover is expected to decrease from 7.1 million Euros in 2024 to 4.8 million Euros in 2028. Reviewing the previous years, there was a significant drop in the figures with turnover at 7.1 million Euros in 2024, declining to 6.5 million Euros in 2025, 5.9 million Euros in 2026, 5.4 million Euros in 2027, and finally reaching 4.8 million Euros in 2028.
Year-on-year percentage variations indicate a consistent decrease:
• From 2024 to 2025: -8.45%
• From 2025 to 2026: -9.23%
• From 2026 to 2027: -8.47%
• From 2027 to 2028: -11.11%
The Compound Annual Growth Rate (CAGR) over the five-year forecast period highlights an average annual decrease of approximately 9.3% in motor vehicle turnover.
Looking ahead, key trends to watch include advancements in electric vehicle technology, shifts in consumer preferences towards sustainable transport options, and potential governmental incentives or regulatory changes aimed at promoting eco-friendly vehicles. The impact of global economic conditions and supply chain volatility on the automotive industry should also be considered for future strategic planning.
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