– He’s about to turn around

– This year we saw a situation where it was a buyer’s market, but that is about to turn now. It may seem like interest rates have peaked and this provides a more predictable economy for most people. So the hypothesis is that more expensive used cars will be more attractive next year, says Terje Dahlgren, car expert at Finn.no.

Figures from FIN show that people bought cheaper and older used cars in 2023, perhaps to avoid larger loans in a stressful day-to-day economy. Finn also sees a slower pace of selling electric cars than in the past.

Increase in demand

However, towards the end of the year, demand for electric cars increased. Petrol and diesel cars still dominate sales on the used market – and here diesel has dominated for several decades.

About one in five cars for sale in Finn are electric, while the same number are petrol-powered. The share of diesel is higher, about 35 percent.

Fossil cars also command very good prices, as the cars are no longer refurbished in new sales. These are also the cars that sell the fastest on Finn.

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Old cars sell faster

The fact that the economic situation has changed for many is reflected in used car sales. Where in the past the cars that sold the fastest were large, expensive electric cars, cars more than five years old are now the fastest sellers on VIN.

At the beginning of the year, it took an average of 27 days to sell a car more than five years old. At the end of the year, it is reduced to 20 days.

For cars less than five years old, it takes an average of 35 days to sell a car. For electric cars, it took 46 days on average at the beginning of the year, but now it’s faster – 31 days on average.

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Five out of ten cars are electric

Finn also shares a list of the 10 best-selling models in 2023:

1. Nissan Leaf ⚡️
2. Volkswagen Golf ⚡️
3. Tesla Model 3 ⚡️
4. Volkswagen Transporter (diesel)
5. Audi e-tron ⚡️
6. BMW 5 Series (diesel)
7. Mitsubishi Outlander (Hybrid)
8. Volkswagen Golf (diesel)
9. BMW i3 ⚡️
10. Toyota RAV4 (Hybrid)

We believe in a seller’s market

Dahlgren expects the used goods market to continue at the same pace in 2024, but limited inventories and increased demand will help push prices up again.

– The electric car market will stabilize, and if the demand for diesel and gasoline cars continues at the same pace, dealers will have to intensify their imports, Dahlgren concludes.