Car sales decline in Faroe Islands as new registrations drop by 27 percent

Car sales in the Faroe Islands are continuing to decline. In August, only 88 new vehicles were registered, a drop of 151 compared to the same time last year. This represents a downturn of approximately 27 percent.

Marius Thomassen, a consultant with the Car Sales Association, cites higher fees on electric vehicles as one of the most obvious reasons for this decline. Additionally, rising interest rates and increased inflation are contributing to a natural downturn in the market. Asfinnur Sigvardsen, the director of a car dealership and chairman of the Car Sales Association, emphasizes the significant impact of political decisions on sales trends.

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