Bulgarian New Car Sales Plummet in First Months of 2009
New car sales dropped dramatically at the start of 2009 in Bulgaria according to data provided by the local car importers' association.
In January and February, car dealers sold 4645 new vehicles, down from 9290 for the same period in 2008.
This 50% reduction has shocked the industry. There was an official year on year drop of 47% in January and a staggering 76% in December.
Dealers also registered a sharp drop in demand for small and medium sized vans, which are used by many companies.
Luxury models are still faring better than common brands, with BMW debuting in the top 10 brands with 110 deals. The runner-up was Mercedes with 107 units. Jaguar is one of the five manufacturers that boosted sales compared to last year, selling five units against none in the previous period.
The outlook seems to be most optimistic for Subaru, which sold 55 vehicles in January and February versus 30 last year.
- » Gazprom Directors' Board to Discuss Issues of South Stream Bulgaria
- » Economy Ministry Working to Ensure Varna TPP Will Remain Open
- » Merger of Revenue, Customs Agency Not on Agenda of Caretaker Govt
- » Bulgaria's Central Bank Holds Meeting on KTB Recovery
- » Car Tolls at Danube Bridge 2 May Drop by 50%
- » Clocks Set To Astronomical Time On Sunday
It should be cheaper to buy German cars in Bulgaria with levs than in Germany with euros because of the exchange rate. That's true for the US. Before, one US dollar would get you 1.25 Euros, now the trend has changed. One US dollar get around 0.75 Euros. So in essence when you bought a BMW years ago and paid $30,000 US dollars that would equate to 37,500 Euros. Now take into account the exchange rate change. A $30,000 US Dollar BMW would equate to 22,500 Euros. This is a difference of 15,000 Euros for one vehicle. They make less money per car now but since the US is the largest market for BMWs they will not charge an extra 15,000 Euros per vehicle. That would lose great market share. BMWs have gone up to help cover the loss in the exchange rate.
In the big picture though, greed and vanity are keeping us in pollution (as in keeping car production profitable and thus delaying the obligatory search for alternative means of transportation).
And in the end, women are completely to blame. As long as they continue the foggy (smoggy?) message that guys are more attractive with a nice ride, pollution will continue.
No thanks, Eve, I won't have a bite of that apple.