New car registrations remain on the upswing
Published: Monday, Dec 4th 2023, 18:00
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For the fifteenth month in a row, the Swiss bought more new cars in November. The car market thus remains on course for recovery. By historical standards, however, the current year is rather weak.
A total of 22,005 cars were registered for the first time in Switzerland and the Principality of Liechtenstein in November, as reported by the Swiss Automobile Importers Association on Monday. This represents an increase of 2.8 percent or 601 vehicles compared to the same month last year.
The balance for all eleven months of 2023 to date looks even better. 225,266 new cars have been put on the road since the beginning of the year. That is 12% more than in the same period last year and almost as many as in the whole of last year.
Nevertheless, the year will remain noticeably below the long-term average of 300,000 new cars. "The reluctance of customers is certainly also due to rising rents, health insurance premiums and other costs of living," says Auto Schweiz spokesman Christoph Wolnik.
However, the association members expect demand to continue to improve in 2024, meaning that the number of new cars will continue to rise.
©Keystone/SDA
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