Norway Autos Report Q4 2016

Norway Autos Report Q4 2016

Published: September 2016
Publisher: BMI Research
Product ref: 262259
Pages: 32
Format: PDF
Delivery: Immediate download

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BMI View: We are revising our outlook for the Norwegian autos sector downwards in 2016 as the economy continues to adjust to a structural downturn in global energy prices, which will translate into weaker vehicle demand. As a result, we now forecast growth of 2.6% in vehicle sales in 2016, down from our previous forecast of 3.7% for the year.

Key Views
• Vehicle sales will grow by 2.65% in 2016.
• Low consumer confidence, tight credit conditions and a weak labour market will continue to drag on growth in the passenger car segment.
• A robust transport infrastructure pipeline will help drive demand for commercial vehicles.
• Norway will remain an oasis for electric vehicles - due to the continuation of subsidies until 2017 and the development of a national charging grid.

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