Bulgaria's automobile market expanded for a fifth straight year, but prospects were bleak, data from the importers' association showed. Car dealers sold 57 927 new cars, trucks, buses and motorcycles in 2008, compared to 55 366 for the previous year.

The 4.6 per cent annual growth rate comes after a 22.15 per cent jump a year ago.

The statistics do not include data by Industrial Commerce, the local Hyundai dealer.

Bulgarians bought 4211 new motor vehicles in December, which traditionally is one of the busiest months of the year, only a quarter of the number recorded a year earlier. The drop is due to the ongoing global financial turmoil, which postponed purchases of big-ticket items such as cars, and the more adverse bank loans and leasing requirements.

Industry sources are fretting over the steep fall in car sales in tight economic conditions and the hard task of regaining the lost ground when things get better. As a consequence, most dealers hope to maintain last year's sales in 2009, not even thinking of further growth.

Statistics show that 15 companies reported slumping car sales in 2008, compared to 2007. Opel's eight local dealers finished top of the market, selling 5462 vehicles, which earned them 10.15 per cent of the market, but that included the sale of 1000 units to the Interior Ministry.

The runner-up was Toyota Balkans, top of the market in 2007, which signed 5082 contracts capturing 9.44 per cent of the market, followed by Volkswagen dealer Porsche BG, which sold 4709 vehicles.

Source: Dnevnik