According to the financial indicators of the car dealer “Moller Auto” group in 2022 in the Baltics, last year the turnover of the company grew to 315.4 million euros, which is 19% more than in 2021. On the other hand, the company’s profit increased by 51%, reaching 8.3 million euros. In general, although the fastest demand was for used cars, the new car market has returned to growth.
The largest part of the company’s turnover in the Baltics is the sale of new cars, and in general, in 2022, the demand for them has increased by 12% compared to the previous year. The fastest increase in demand has been in the segment of used cars – last year the demand for them increased by 39% compared to 2021.
“Overall, we have achieved record-breaking results over the past year, and they confirm that, despite a series of challenges facing the market and citizens, personal mobility remains a key priority and a core need. Currently, we see more activity in the segment of slightly used cars, but at the same time, growth has also returned to the new car market. I want to emphasize that production is starting to recover its capacity, and I think that already this year the situation in the availability of new cars will be even more stable, waiting for specific packages. Currently, we have a sufficient range of new cars in our warehouses to be able to offer customers a wider choice, that is, we can provide customers with various “Audi” and “Volkswagen” cars in a certain package, which are available for immediate purchase and use,” says Izīda Gerkena, CEO of “Moller Auto” company. executive director of the group in the Baltics.
She adds that although most of the cars sold by Moller Auto last year were with internal combustion engines, the proportion of new electric cars sold has increased to 5.7%. For example, the growing trend in Latvia is also confirmed by publicly available CSDD data – by January 1, 2023, there were already almost 4,000 electric cars on the register, and from the beginning of 2022, the number of such registered cars has increased by 81%.
I. Gerkena emphasizes that several factors contribute to the increase: “Fluctuations in fuel prices, the desire to focus on a greener lifestyle, active installation of solar panels contribute to the transition from cars with internal combustion engines to electric cars. At the same time, when purchasing an electric car, you can receive various advantages, for example, state support for private individuals in the amount of 4,500 euros is available, you have to pay lower taxes, you can reduce expenses for technical maintenance, use free parking lots, etc. True, we still have a long way to go for Latvia to move faster towards greener mobility, and in this respect, financial state support will play a big role not only for private individuals, but also for companies,” says I. Gerkena.
Looking to the future, I. Gerkena points out that three key words dominate the auto industry at the moment – flexibility, digitization, changes that affect business. Therefore, the ability to adapt to difficult economic conditions will be of great importance, but also the ability to lay fundamental foundations for mobility changes. “It should be added that the demanding lifestyle of drivers requires continuous mobility, where car maintenance plays an important role in order to drive safely, so we constantly improve and develop our service centers, as well as a number of other services,” adds I. Gerkena.
