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Fewer Norwegians lease cars

Older man driving carDriving car Photo: NTB SCANPIX

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The number of Norwegians who have chosen to rent a private car has fallen sharply in the first half of the year, according to figures from the Association of Financing Companies, writes E24.

Compared to the same period last year, rentals in the private market have fallen in excess of 27 %.

The head of car finance at Danske Bank, Ketil Pedersen, tells the online newspaper that there has been some kind of crash in the development. He believes the fall may be due to an increasing number of electric cars sold.

This can largely be due to uncertainty in the market today regarding the question of VAT on monthly rental, as well as a large number of electric cars sold, says Pedersen.

However, he believes that leasing electric cars will be a growing industry in the years to come. Until now, the leasing industry has been reluctant to lease electric cars because they must be able to guarantee the residual value. In recent years, technological developments have been great, and it has been challenging to calculate how much used electric cars will be worth.

He believes this is changing and that a leasing wave for electric cars may be coming.

© NTB Scanpix / #Norway Today

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