Used-Car Sales Fall as Demand for Electric Cars Rises, Statistics Show

Car sales fell by 4 percent in the third quarter compared with the same period last year, according to car dealership Kvdbil.

"The used-car market has held up relatively well so far, but in the third quarter we saw a clearer decline. Households are still quite cautious about making larger purchases, while the new-car market has strengthened and competition for car buyers has increased," says Daniel Odsberg, sales manager at Kvdbil, in a press release.

Sales of electric cars, on the other hand, increased by 7.1 percent during the quarter. Used electric car prices also rose, by 4.3 percent in September.

“The electrification of the used-car market continues even as the market as a whole declines,” Odsberg adds.