Joining or concatenating two nouns or a noun and an adjective form “a new word”, but the meaning is of course based upon the two other words.
So if I were to construct a word about the car, I could go like: anden-gears-sving-fejltænding. (Literally, second gear turn misfire). Typically hyphens are omitted, but they are optional.
Is that a new word? Not in Danish, it is just four other written with no spaces in between. Written together they describe a specific situation/concept. But there is no new word.