Fierce Competition Among 50-60 Brands

Volkswagen has recorded weak registration numbers for the month of March, according to data reported by fvn.no.

Jochumsen, a vice group director, attributed the current market environment to an intensifying level of competition, noting that between 50 and 60 different brands are now vying for market share. He described the competitive landscape as extremely hard.

The decline in March registrations follows a period of high volume at the end of the previous year, with Jochumsen stating that the company delivered an extreme amount of vehicles in December.

Despite the March figures, the vice group director expressed satisfaction with the performance of both Volkswagen and Skoda. Other brands also saw varying results in the local market; Nissan reported a strong month in March, while MG has maintained steady sales.

European Industry Pressures

The challenges facing Volkswagen align with a broader trend of European car manufacturers losing their hold on the Norwegian market. Data indicates a shift in the competitive landscape since 2019, as the market share for Japanese brands fell from 25 percent to 14.7 percent, and Korean brands saw a reduction from 8 percent to 3.7 percent.

In response to the diminishing competitiveness of European automotive producers, the EU Commission has already implemented measures intended to strengthen the industry’s position.