Bulgaria Sees Surge in New Car Sales, Second Highest Growth Rate in EU

Society | February 20, 2024, Tuesday // 12:01
Bulgaria: Bulgaria Sees Surge in New Car Sales, Second Highest Growth Rate in EU @Pixabay

Bulgaria emerges as a standout performer in the European Union's automotive market, boasting the second-highest growth rate in new car sales, according to data released by the Association of Automobile Manufacturers in Europe (ACEA).

With a remarkable increase of 24.4% in January compared to the same period last year, Bulgaria closely follows Croatia, which recorded a growth rate of 30.7%. Across the EU, new passenger car sales have surged by 12.1% since January 2023, signaling positive momentum in the industry.

An analysis of fuel preferences among new car buyers reveals a dynamic landscape: approximately 35% of new passenger cars run on petrol, while nearly 30% are hybrid vehicles. Diesel cars constitute 13.4% of the market share. Notably, electric cars command a significant portion, accounting for almost 11% of new purchases—a notable 9.5% increase from January 2023.

Despite the overall growth in electric vehicle adoption, Bulgaria faces a surprising trend: a 15% decline in demand for electric cars. This contrast underscores the complexity of consumer preferences and market dynamics within the automotive sector.

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Tags: Bulgaria, EU, new car sales, automotive industry

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