In 2023, the sale of financed cars in Finland increased significantly, with over a hundred percent growth compared to 2021. However, first registrations of passenger cars decreased by 10 percent between January and February compared to the previous year, and have continued to decrease since May of last year. On the other hand, sales of used cars in car dealerships have increased by more than five percent at the beginning of this year compared to a year ago.
The average age of the passenger car fleet in Finland was 13.2 years last year, with the highest average age in Kainuu and North Karelia, and the lowest in Uusimaa. According to the OP group, newer cars have a lower risk of serious injury or death in collision accidents compared to older cars. Jari Jaulimo, Head of Cash Flows and Working Capital at OP Yrityspanki notes that while the average age of the passenger car fleet has increased over the past decade leading to higher emissions from older cars, an increase in low-emission cars is expected to balance the situation. Last year, new cars registered had carbon dioxide emissions of 68 grams per kilometer, significantly lower than the average emissions in 2019. Low-emission vehicles contribute to reducing overall traffic emissions as they emit less than 50 grams per kilometer. Overall, shifting towards low-emission vehicles is expected to have a positive impact on reducing environmental impact in