Up to 50% jump in the price of second-hand cars, electric cars are also in demand

Second-hand car prices continue to rise. The industry predicts that the increase could reach nearly 50 percent compared to last year’s prices. Against this background, manufacturers of new cars continue to experience serious difficulties with deadlines due to the lack of parts due to the pandemic, it was reported BNT.

Since the beginning of the year, the prices of second-hand cars have been going up. The reason – the secondary market in Western Europe lacks offers. Traditional imports from Italy, Germany, Switzerland and Austria are severely limited as the wait for a new car is between 8 months and a year and a half after the global lockdown.

“About 4-5 outside dealers are currently fighting for one car. Prices have risen by at least 30 percent for both new and second-hand cars,” explained Lubomir Dorosiev – Association of Car Importers.

The main reason for this is the huge delay in spare parts and delivery. Due to these reasons, the domestic car market in Bulgaria has been developing quite a lot in recent years, adds Konstantin Popov – a car dealer.

In our country, the most preferred cars are up to 10 years old. According to the traders, although at a slow pace, the car fleet in Bulgaria is being renewed, as in the big cities drivers take into account the car’s Euro-certificate.

“The price range of the cars that are sold on the Bulgarian market is between 3-4 thousand BGN to 40-50 thousand. Diesel cars are the main ones in demand. Those with small motors are preferable. Since propane-butane is currently the most cheap fuel on the market, there is also a lot of interest in cars with gas injection,” said Emil Nikolov, a car dealer.

Interest in hybrid cars has also increased because of the low consumption, which is on average 30% less than that of a standard gasoline or diesel engine in the same class.

In the past few months, traders have also noticed another trend. Increasing interest in electric cars because of high fuel prices. They can be found second hand at a price between 20 and 80 thousand BGN.

For now, however, electric mobility in our country remains more of a boutique pleasure. By July 1, there were just over 4,600 registered electric cars. According to traders, one of the reasons is the lack of a large number of charging stations in the country. Against this background, the forecasts are that prices will continue to rise, and the market will catch up with the slowed pace next year at the earliest.

“Out of 60-70 cars that I have in stock, I currently have 9 cars in the car dealership. We are selling, but there is nothing to buy,” explained Lubomir Dorosiev – Association of Car Importers.

According to data from the European Association of Automobile Manufacturers, the number of new car registrations in Europe fell by nearly 17 percent in June. Since the beginning of the year, countries such as Italy, France, Germany and Spain have reported a decline. The highest percentage in June was registered in Croatia – nearly 30 percent.

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