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Largest growth in five years for motor vehicles in Norway

Staff Writer | June 2, 2017
Local kind-of-activity units (local KAUs) in wholesale and retail trade of motor vehicles in Norway had a turnover of nearly NOK 218 billion in 2015.
Norway cars
Auto industry   Local kind-of-activity units
This is 9.4 percent more than in 2014, and is the largest growth the industry has seen since 2010.

The turnover in the wholesale and retail trade of motor vehicles varied widely in the period 2007–2015. During the financial crisis years 2008–2009, turnover fell by 8.5 percent.

The next two years saw a significant growth. In 2010, turnover was already back to a higher level than in 2007. The increase was 13.1 and 8.8 percent respectively in 2010 and 2011.

The growth continued for the next three years but at a more moderate level with an annual revenue increase of 2.5 percent on average.

For the eighth consecutive year we see a sales increase in retail trade. Local KAUs in retail trade had a turnover of NOK 464 billion in 2015. This is 2.2 percent more than in 2014.

The industry had a fairly steady development over the period 2007–2015, and was not as strongly affected by the financial crisis as the two other industries. Turnover increased by 1.4 percent in 2009.

This is down from an increase of 4.5 percent the year before, but this was a year when the other two industries had a turnover decline of 6.3 percent. From 2010–2015, the industry experienced an annual increase of 3.1 percent on average.

Wholesale trade had a turnover of around NOK 860 billion in 2015. This is 1.0 percent more than in 2014.

Although the overall increase for this industry is modest, greater fluctuations can be seen at a more detailed level.

Each industry is divided into several groups. Wholesale of food, beverages and tobacco, which is the largest group in the wholesale trade division, increased its sales by 8.8 percent.

The second largest group, other specialised wholesale, had a decline of 7.2 percent.

In total, wholesale and retail trade ended up with a turnover of NOK 1 544 billion in 2015. This is 2.5 percent more than in 2014. After a decline in 2009, the wholesale and retail trade industries have increased their revenue every year.

From 2009 to 2015, sales in the three industries increased turnover by 21.4 percent.


 

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