Sunday April 21, 2024

Sales of new cars on wane

Published : 25 Mar 2024, 11:09

  DF Report
DF File Photo.

The registrations of new cars in Finland in January and February were down 10% compared to one year ago, according to Pohjola Insurance (OP).

During the same period, sales of used cars by dealerships grew by more than 5% from last year, said OP in a press release on Monday.

The number of cars registered as new has been in decline since May 2023.

A first-time registration refers to a new or imported car that is registered in the Finnish Vehicular and Driver Data Register for the first time.

According to the Finnish Information Centre of Automobile Sector, the average age of passenger cars in Finland was about 13.2 years in 2023. The average age of passenger cars is the highest in Kainuu and North Karelia and the lowest in Uusimaa.

According to OP's data, sales of low-emission cars (CO2 emissions less than 50g/km) have continued to grow rapidly.

In 2023, the number of sales of low-emission cars financed in Finland was up by 50% from the previous year. The total growth since 2021 is more than 100 per cent.