Aerial view of a large parking lot filled with many cars.

Many people want to change cars when the economy turns around

15 maj, 2025

Although households’ outlook on the economy remains bleak, there are signs that many are ready to act when the situation turns around. Our Sifo survey shows that one in three Swedes plans to make some kind of change to their car ownership when the economy improves – which could give a boost to both the used car market and new car sales.

In the survey, 16 percent say they want to switch to a newer car. The same number plan to upgrade to an electric or hybrid model.

– Buying a car is often one of the first major decisions that comes to mind when households feel more secure with their finances. This makes the car market an interesting thermometer of how the economy is doing. For new car sales, which have long been weak, this is of course particularly welcome. But the entire ecosystem around the car is affected, from manufacturers to workshops and finance companies, says Daniel Odsberg, Sales Manager at Kvdbil .

Increased demand for green alternatives

Interest in upgrading to an electric car or other environmentally friendly model is particularly strong among households with higher incomes. Among those earning over SEK 65,000 a month, a full 20 percent plan to switch to an electric or hybrid car . There is also a clear willingness to switch in the younger age group – among 20-34 year olds the proportion is 16 percent.

“As the economy strengthens, more people will have the opportunity to consider sustainability in their decisions. Many people want to make more conscious choices when it comes to their car ownership,” notes Daniel Odsberg.

Younger people want to change cars – and get another one

It is also among younger people that the willingness to change is greatest. 18 percent plan to switch to a newer car – compared to 17 percent among 35-55 year olds and 13 percent in the 56-79 year old group. In addition, 6 percent are considering getting a second car, which is clearly more than among both middle-aged and older households.

– Young people are often in a phase where a lot is happening at the same time – moving, starting a family or changing jobs. Then the car becomes a key to flexibility, and when the economy turns around, they are often quick to act, says Daniel Odsberg.

Used is the first choice for most people

But despite a brighter economy, few are aiming for brand new – only 8 percent say they would choose a brand new car. 39 percent say they will choose used. However, there is an opening for new car purchases: 22 percent say they will be more inclined to look at a new car, even though used is still in the picture.

– The used market remains strong and demand stable. But in the long term, we are also dependent on new cars entering the system. When new car purchases slow down, supply decreases later on – fewer exchanges are made and there are fewer cars on the used market. Therefore, it is positive that a large proportion is also considering buying new, says Daniel Odsberg.

Question: How do you think your car ownership/use will change as the economy improves?

Total and broken down by personal monthly income

	Totalt	Upp till 21 999 kr	22 000-29 499 kr	29 500-41 999 kr	42 000-64 999 kr	65 000 kr eller mer
Jag kommer förmodligen att byta till en nyare bil	16 %	14 %	13 %	14 %	21 %	17 %
Jag planerar att uppgradera till en mer miljövänlig eller eldriven bil	16 %	14 %	15 %	15 %	20 %	16 %
Jag planerar inga förändringar	56 %	48 %	58 %	59 %	51 %	67 %
Jag är osäker, det beror på hur mycket min ekonomi förbättras	12 %	20 %	13 %	12 %	9 %	5 %
Jag kommer att lägga mer på underhåll och förbättringar	4 %	4 %	3 %	5 %	4 %	1 %
Jag överväger att köpa en andra bil till hushållet	3 %	1 %	2 %	3 %	5 %	2 %
Jag kommer att använda bilen mer	2 %	0 %	0 %	1 %	2 %	1 %
Annat	1 %	3 %	1 %	1 %	1 %	6 %

Question: How much does an improved financial situation affect your choice between a new and a used car?

Total and broken down by personal monthly income

	Totalt	Upp till 21 999 kr	22 000-29 499 kr	29 500-41 999 kr	42 000-64 999 kr	65 000 kr eller mer
Stor påverkan – Jag skulle förmodligen välja en helt ny bil (direkt från fabrik)	8 %	5 %	6 %	6 %	12 %	9 %
Viss påverkan – Jag är mer benägen att överväga en ny bil men är fortfarande öppen för begagnat	22 %	34 %	14 %	21 %	20 %	19 %
Liten påverkan – Jag skulle troligtvis välja begagnad bil oavsett	39 %	35 %	43 %	44 %	36 %	20 %
Ingen påverkan – Det ekonomiska läget påverkar inte mitt val	26 %	21 %	27 %	24 %	27 %	50 %
Vet ej/osäker	5 %	4 %	10 %	4 %	4 %	1 %

About the survey
The survey was conducted in Kantar Media's web panel (Sifopanelen) during the period 13–21 March 2025. A total of 1050 people aged 20–79 with access to a car were interviewed. The web panel is nationally representative and recruited based on random selection. There is no self-recruitment in Kantar Media's web panel (Sifopanelen).