Forecast: New Vehicles Registrations in Denmark

Between 2013 and 2019, the new vehicle registrations in Denmark showed a general upward trend, reaching a peak of 265.39 thousand in 2016. However, the market experienced significant volatility in subsequent years, with an unprecedented drop of 83.42% in 2020 to 43.8 thousand, attributed primarily to the global pandemic. The market began to recover in 2021 and 2022, with substantial growth, notably a 311.65% increase in 2022. By 2023, the market had stabilized at 272.56 thousand registrations, reflecting a 21.87% year-on-year increase and a CAGR of 1.11%. The forecast for the next five years suggests a steady growth with a 1.09% CAGR, leading to 292 thousand registrations by 2028.

Future trends to watch for include the impact of electric vehicle adoption, shifts in consumer preferences towards sustainable options, and potential changes in regulatory policies. The market's stability depends on macroeconomic factors and technological advancements in the automotive industry.