Swiss car market to decline by 5% in 2024

In 2024, the Swiss and Liechtenstein car market recorded a decline of 5%, with 239,535 new passenger car registrations. This decline brings the market well below pre-pandemic levels. Various factors, including an economic slowdown and controversial political signals on electromobility, have hampered demand for new vehicles. Indeed, despite CO2 reduction targets, the share of electric and plug-in hybrid cars stagnates at 28%.

Hybrid models are gaining popularity, reaching 33.6% of new registrations, while electric and plug-in hybrid vehicles are seeing declines of 12.5% and 10.4% respectively. Recent tax policies, such as the removal of the tax exemption for electric vehicles, have been blamed for this slowdown in electric sales. The lack of clear regulations for 2025 further complicates the situation.