Even though new car sales fell in 2024, Danes spent more money on new cars that were still fitted with license plates. This is shown by new figures from the Confederation of Danish Industry.
New figures reveal an interesting trend: Danes are willing to spend more money on new cars, even though declining sales point in a different direction.
A new analysis from the industry organization DI Bilbranchen shows that consumption on cars has increased by 49 percent since 2018, when adjusted for inflation.
This corresponds to an annual growth of almost seven percent. The paradox arises because the number of cars sold to private individuals has fallen by almost 50 percent during the same period.
One explanation for this phenomenon is the Danes' increasing interest in electric cars. Electric cars are often in a higher price range than traditional gasoline and diesel cars, which pushes up the average price.
According to Statistics Denmark, the average price of a newly registered passenger car has increased by 51 percent in five years – from 258,000 kroner in 2020 to 390,000 kroner in 2024.
Changes in Danes' car preferences are also reflected in sales statistics. For example, the micro segment has shrunk from 11 percent of cars sold in 2018 to just one percent in 2024.
The mini segment has similarly decreased from 24 percent to 12 percent. The SUV segment is the only one to have experienced growth during the period and now accounts for 59 percent of new sales.
The increased demand for electric cars has also had a significant impact on used car imports. Since 2018, the number of used cars imported into Denmark has increased by almost 400 percent – from 11,800 cars in 2018 to 56,200 cars in 2024.
Used car imports now account for 35 percent of cars entering Danish households, compared to just eight percent in 2018.
Another factor at play is leasing. Leasing new cars has become more popular, rising from 15 percent in 2018 to 26 percent in 2024.
However, it is worth noting that leased cars are not included in the statistics on household car expenses, as they are registered as investments in leasing companies.
Despite the declining car sales, DI Bilbranchen expects an increase in new sales in 2025. The forecast is for growth of 7.8 percent compared to 2024, which will result in total sales of approximately 187,000 new passenger cars.
Industry Director Thomas Moller Sorensen explains that Danes prioritize differently when buying a car today. They are willing to invest more money in a car that meets their needs and wants, even if it means they buy fewer cars overall.
This development can be seen as an expression of a general trend in society, where consumers are increasingly focusing on quality and sustainability rather than quantity.
It will be exciting to follow the development of the car market in the coming years, and see how the preferences and priorities of the Danes will continue to shape the market. Especially at a time when the EU is threatening car brands with large fines. Read more about it here .
