New figures show that more drivers are ready to spend more of their finances on a new car in the course of 2025. This is related to wages and interest rates, say the people behind it.
A new study from Kantar for Sparebank 1 Østlandet shows that drivers are willing to spend more money on new cars in 2025. Around 15 percent of those surveyed plan to buy a car in the coming year.
The survey, based on responses from 1,335 participants, reveals that 53 percent of respondents plan to buy a used car this year.
Conversely, 32 percent of participants plan to put the money into a brand new car, which is an increase of three percentage points compared to last year's survey.
In addition to an increased interest in new cars, the study also shows that consumers are willing to spend more money on their car purchases.
The proportion of drivers planning to spend 200,000 kroner or more has increased from 48 to 57 percent. At the same time, the proportion planning to buy a used car for less than 100,000 kroner has halved from 18 to just 9 percent.
– That more people are considering spending more on maintaining their cars and the actual car purchase may be related to expectations of interest rate cuts and real loan increases in the run-up to 2025.
"It will help people get better advice," says Elisabeth Landsverk, private economist at SpareBank 1.
The trend to spend more money on cars is supported by expectations that new electric cars will become more affordable by 2025. Tightened emission requirements for car manufacturers in the European market are expected to lead to an increased supply of electric cars at lower prices.
And that's not just the expectation. In fact, it's already happened. Both at home and abroad, car importers have started January by sharply cutting prices on brand new cars. Some permanently, others simply to clear out last year's stock.
