Due to the pandemic, individuals and companies have postponed the purchase of new cars, but in the future sales of new cars may remain at their current level, said Izīda Gerkena, executive director of the car dealership group “Moller Auto” in the Baltics.
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He said car prices have risen over the past two years due to limited semiconductor availability, the war in Ukraine, inflation and other factors. On the other hand, the increase in the price of energy resources has not yet affected car prices, but it is likely that it will still be felt.
Referring to data from Lithuanian market research firm “Auto tyarimi”, Gerkena said that, in general, new car registrations in the Baltic countries in the nine months of 2022, compared to the corresponding period last year, decreased by 13. %. However, 6% and 14% more new cars were registered in August and September, respectively, compared to the same months in 2021.
“This could indicate the recovery of the new car market. Of course, it can still be modified by rising inflation, the further development of the energy crisis and the general economic situation,” explained Gerkena.
The generalized increase in prices has also led to changes in the habits of buyers, tending to seek more economically advantageous solutions. At the moment it can be observed that people are more cautious in choosing a car, and the number of people who are considering buying an electric car is also increasing. The fact that many people have installed solar panels due to the rising price of electricity also makes it cheaper to use electric cars.
In addition, representatives of “Moller Auto” noted that the number of buyers choosing one-liter motor vehicles is increasing. They are economy class cars that consume less fuel in daily use and therefore generate lower expenses. Interest in one-liter engine cars has been on the rise since 2019 and sales figures for Baltic “Moller cars” show that demand for these vehicles has doubled in August of this year.
Gerken noted that it is currently very difficult to predict the future development of the automotive market.
“At the same time, it must be taken into account that both individuals and mainly companies had postponed the purchase of new cars due to the pandemic. On the other hand, continuing to drive a used car is financially more expensive than a new one This is why new car sales may remain at their current level, “he said.
“Moller auto” represents car brands in Latvia and Lithuania “Volkswagen” And “Audi“, but in Estonia” Volkswagen “and”Škoda“Authorized service. The” Moller Auto “group of companies in the Baltic countries is made up of nine companies and their total turnover in 2021 was 267 million euros and profits of five million euros.
The company “Moller auto” was registered in 2014 and its share capital is 1.5 million euros, according to information “Firmas.lv”. The company’s turnover in 2021 was 32.64 million euros, while the profit was 1.22 million euros. “Moller auto” is owned by the Norwegian “Moller Bil”.
