In July, vehicle registrations in Norway fell by 24.36% with respect to July of 2019. In total, 12,007 cars were registered and 146,678 new cars were sold in the last twelve months, 26.5% less than the year before.
The breakdown of car sales figures for the month of July is:
- Commercial vehicles sold: 2,235, 41.18% less than in July of 2019.
- Passenger cars regitrations: 9,772, which represents a figure of 19.06% less than in July of 2019.
Norway is the 46th-placed country in ranking of 137 countries based on number of vehicle registrations.
A very useful variable for estimating the level of economic wealth enjoyed by Norwegians residents, when compared to the other countries in the ranking, is the number of vehicles sold or registered per thousand residents in the last year. With annual sales of 27.33 cars per 1,000 residents, 2.24 of them in the last month, Norway, occupies 18th place in the ranking.
As can be seen, the number of registrations per thousand residents has fallen in the last year. A drop in registrations generally indicates a fall in consumer confidence and, when it is sustained, a recession in the real economy.
Changes in Norwegian vehicle registration numbers are shown in the tables below. As several studies indicate, these changes are very much related to changes in GDP and, hence, to a country's economic situation. Sales have declined since 2010, as 153,044 were registered that year, as have the number of registrations per thousand residents, which that year numbered 31.5.
Here we show you the progression of vehicle registrations in Norway. You can see car registrations in other countries in en vehicle registrations and see all the economic information about Norway in en Norwegian economy.