Today’s news / Slow start for car sales in 2024
The sale of cars dropped considerably in January. (Archive photo). Photo: Liselotte Sabroe/Ritzau Scanpix

Slow start for car sales in 2024

Car sales in Denmark saw a sluggish start in 2024, with a 44% drop in new car registrations compared to December and 18% lower than the previous January, according to Statistics Denmark. This slowdown might be attributed to the tax strategy regarding electric cars, which encourages deferring purchases. A rise in the tax deduction for electric cars effective February 1st possibly influenced buyers to postpone buying. Moreover, new taxes introduced at the year’s start impacted expensive electric cars, with electric vehicles comprising only 35.2% of new registrations in January compared to 51.4% in December. However, electric car sales in January were still 42% higher than the previous year. Chief economist Jeppe Juul Borre from Arbejdernes Landsbank predicts potential car price drops due to dealers reporting excess inventory and about 40% anticipating price reductions within the next three months, potentially boosting future car sales.