Scandinavian markets weather the crisis
 

The Scandinavian automotive market has been remarkably resilient to the crisis, even better than Germany. Indeed, the volume of sales (passenger cars) in 2012 registered only a slight decrease (-3.5%) compared to 2007. In addition, the 2012 volume is modestly lower (-5%) than the peak of 2011, which marks the registrations record in this area.


The four countries that make up this region (Sweden, Norway, Denmark and Finland) have suffered from the 2008-2009 crisis like other European countries, but the rebound has been remarkable in 2010.  Two countries, Denmark and Norway, have even reached record sales in 2012, which is unique in Europe.


This highlights the financial health of these countries (no debt) and consumer confidence as a result. Equipped with an auto industry that is gradually disintegrated (end of Saab), Volvo is the only survivor of this industry (but now Chinese). The Scandinavian markets source their cars externally, in Western Europe and Asia mainly . The leader group  is now Volkswagen, far ahead of Volvo.

 

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