Finland. 2019 ended at the worst in 4 years despite the final rush

Finnish cars market

Finnish cars market in 2019 fell down after the end of scrap incentive scheme provided by the government in the previous year, scoring the worst performance in the last four years. Indeed, the full-year sales were 113.243, down 5.7%.

Economic Environment

Finnish economic growth slowed marginally in the third quarter, according to revised GDP data. The slight slowdown came in part from a decrease in government spending, while the external sector continued to drag on the economy, albeit to a lesser extent than in the second quarter. More positively, both private consumption and fixed investment picked up in Q3.

Turning to the fourth quarter, available data indicates a further slowing of momentum as economic activity declined month-on-month in October. Moreover, growth in real wages slowed in the same month, which may drag on private consumption.

Market Trend

Finnish vehicles market has not yet recovered the pre-2008 crisis level, albeit a stable recovery shown in last years, too slow to recover record level. In the 2016 market ended with 117.848 cars sold and the 2017 was shy, with sales down 0.1%, at 117.686.

In 2018 the market was benefited by the introduction of a scrap incentive scheme up to €2.500 but the final result was almost disappointing with sales at 120..066, just marginally better than in the previous year. However, the 2018 was the fifth increase in a row.

Ended the incentives the market in 2019 was declining, ending with the worst results in the last four years. Indeed, the full-year sales were 113.243, down 5.7%. Although in the last four months the market was growing, it was too late to cover the gap accumulated in the previous eight months.

Tables with sales figures

In the tables below we report sales for all brands, top 10 manufacturers and top 10 Models.

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