In 2023, the turnover for motor vehicles, trailers, and semi-trailers in Norway stood at 681 million euros. The forecasted data for 2024 shows a decrease to 662.8 million euros, representing a 2.67% decline year-on-year. This downward trend is projected to continue, with 2025 estimated at 644.6 million euros (a 2.75% decrease from 2024), 2026 at 626.5 million euros (a 2.81% decrease from 2025), 2027 at 608.6 million euros (a 2.87% decrease from 2026), and 2028 at 590.9 million euros (a 2.91% decrease from 2027).
Over the last two years (2024-2026), the turnover is expected to decrease by approximately 5.44%. The compound annual growth rate (CAGR) over the forecasted five-year period is estimated to be -2.96%, suggesting a consistent annual decline in turnover.
Future trends to watch include technological advancements in vehicle manufacturing, potential shifts in consumer preferences towards electric and autonomous vehicles, economic factors impacting consumer purchasing power, and regulatory changes aiming for environmental sustainability. These variables could significantly influence market dynamics and either mitigate or exacerbate the observed turnover decline.
