According to the financial results of the car dealer “Moller Auto” in Latvia, in October of this year, turnover in the used car segment increased by 87% compared to the corresponding period last year. On the other hand, in November by 57% compared to 2022.
Izīda Gerkena, executive director of the “Moller Auto” group of companies in the Baltic states, states that the past two months this year mark the company’s records in the sale of used cars and explains the significant indicators with the desire of buyers to buy newer and newer used cars. For example, in the category of used cars up to 7 years old, the market has grown by about 20% compared to last year.
In general, not only in Latvia, but also in the Baltics, a stable growth of the used car segment can be observed, that is, the turnover data of “Moller Auto” shows that in October the increase was 65%, and in November – 39%, compared to the data of these months last year.
“The growth of the used car segment has mainly been promoted by the desire of buyers to buy newer and slightly used cars. We see that buyers in this car category trust dealers and certified car sellers more, where people can be sure of the car’s history, including mileage data, as well as receive a car warranty. Also, buyers are still interested in cars that are equipped with a variety of additional equipment, providing comfort, additional safety on the road and support for the driver, as well as entertainment options, which are especially characteristic of the latest car models. This year, “Moller Auto” also significantly expanded the offer of used cars, that is, in addition to “Volkswagen” and “Audi”, the dealers also have cars of brands such as “Skoda” and “Volvo” in larger quantities,” reveals Izīda Gerkena, “Moller Executive director of the Auto” group of companies in the Baltics.
She adds that the changes in the procedure for calculating the company’s light vehicle tax (UVTN) have also boosted the interest of buyers. As a result, business customers are increasingly interested in purchasing a plug-in hybrid car. For example, these cars, despite their power, have to pay UVTN in the amount of only 25 euros per month. While, for example, if the car is equipped with an internal combustion engine, the power of which exceeds 200 KW, UVTN costs 140 euros per month. In response to this change, “Moller Auto” also significantly expanded its assortment of plug-in hybrid cars.
“Moller Auto” data shows that the most purchased used cars so far in December this year were “Volkswagen Passat”, “Škoda Kodiaq” and “Volkswagen Tiguan”, while in November and October the most popular were “Volkswagen Tiguan”, “Volkswagen Golf” and “Volkswagen Passat”.
Forecasting the demand in the second-hand car market in 2024, I. Gerkena points out that the segment will maintain stable growth, as buyers in Latvia are happy to choose used cars, valuing them equally high as new cars.
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2023-12-27 07:52:23
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