More than 20 000 new cars are expected to be sold by the end of 2004, Stefan Hadjinikolov, chairman of the Union of Car Importers in Bulgaria (UCIB), announced on June 21.
A total of 17 220 new cars were bought in 2003, and if the forecasted figure is correct, it will mean that in 2004 more than 2859 new cars will be sold than in the previous year, Hadjinikolov said. These figures show that the new car market is starting to develop, regardless of the ten-fold greater imports of used cars.
This is also confirmed by the fact that sales in January 2004 were 10 per cent higher than in the same month of 2003, the growth for the first four months of the year being 44 per cent.
Growth has also been registered in truck and bus sales. In the first four months of 2004 they were 17.5 per cent higher than in 2003.
Despite the increase in sales since the beginning of the year, the months in which new car sales are highest are yet to come, experts in the car sales sector commented. Traditionally these are June and July in the wake of the Sofia Motor Show.
This year's Motor Show was held from June 11 to 20. The participants displayed 100 new models for Bulgaria and modifications of cars, trucks and motorcycles.
Still car sales are highest in December when most of the car merchants offer Christmas discounts.
More accessible credit and car loans offered by banks have also contributed to the rise in the sales of new cars. "Our purpose is not only to make it possible for our clients to make good buys, but also to successfully develop their business," Borislav Moyanov, head of the Retail Banking Department of Postbank, said. The bank is offering loans for the purchase of cars by a simplified procedure.
However, the old problems of the Bulgarian car market remain. The number of used car sales are constantly growing. While two years ago some 100 000 used cars were imported in Bulgaria, last year their number was 150 000.
A total of 17 220 new cars were bought in 2003, and if the forecasted figure is correct, it will mean that in 2004 more than 2859 new cars will be sold than in the previous year, Hadjinikolov said. These figures show that the new car market is starting to develop, regardless of the ten-fold greater imports of used cars.
This is also confirmed by the fact that sales in January 2004 were 10 per cent higher than in the same month of 2003, the growth for the first four months of the year being 44 per cent.
Growth has also been registered in truck and bus sales. In the first four months of 2004 they were 17.5 per cent higher than in 2003.
Despite the increase in sales since the beginning of the year, the months in which new car sales are highest are yet to come, experts in the car sales sector commented. Traditionally these are June and July in the wake of the Sofia Motor Show.
This year's Motor Show was held from June 11 to 20. The participants displayed 100 new models for Bulgaria and modifications of cars, trucks and motorcycles.
Still car sales are highest in December when most of the car merchants offer Christmas discounts.
More accessible credit and car loans offered by banks have also contributed to the rise in the sales of new cars. "Our purpose is not only to make it possible for our clients to make good buys, but also to successfully develop their business," Borislav Moyanov, head of the Retail Banking Department of Postbank, said. The bank is offering loans for the purchase of cars by a simplified procedure.
However, the old problems of the Bulgarian car market remain. The number of used car sales are constantly growing. While two years ago some 100 000 used cars were imported in Bulgaria, last year their number was 150 000.
