Bulgaria is the fastest growing passenger car market in the EU since the beginning of 2024, with almost 4,000 new cars registered in March, a 29% increase compared to March 2023. The main reasons for this huge growth seen in the data of the European Association of Automobile Manufacturers (ACEA), are the small size of the market and the correspondingly low base, and the delayed deliveries of cars ordered a year earlier, Konstantin Tomov, author and host of the program “Kolela” on Bulgaria ON, told Bloomberg TV Bulgaria AIR.
“Now comes the moment when the dealers in Bulgaria can fulfill the orders accumulated in recent years. The other factor, which is supported by observations on other spheres of the economy, is that consumption is currently at a high level. A significant number of people have funds If the trend continues, which is very likely, 2024 will be the strongest year in the history of the Bulgarian car market, said Tomov.
He added that sales are at prices well above pre-Covid pandemic levels.
There are still supply problems, especially in Europe itself, where there is a lack of trailers to transport cars, Tomov said.
Bulgaria is not doing much to encourage the uptake of EVs, and such hesitation is already present across the EU, especially amid the removal of EV incentives in major markets such as Germany. There is a decline in EV sales in Europe by 11.3%, of plug-in hybrids by 6.5%, with only hybrids recording a growth of 12%.
There is some retreat in the rhetoric of politicians about the inevitability of electric cars, and this is affecting consumers.
More on the car market in Europe and how Tesla is performing – watch the video here.
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