Financial and business news from Bulgaria

Crash on the car market in our country in 2020

Bulgaria is the most catastrophic automotive market in the EU in November, ASEA statistics show. This strongly diverges with the assurances of politicians and economists that the Bulgarian economy was less affected by the coronavirus than most European countries, writes dnes.bg.
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The new car market in Europe shrunk by 12% in November after recent government re-closures due to Coronavius. This largely wipes out the timid recovery from the summer and leads to a total 25.5% drop in the European market for the 11 months compared to the same period in 2019. The difference is about 3 million cars.

The record holder in November is Bulgaria, where total registrations are only 1544, almost double less (-45.2%) than the same month of 2019. The only other country in the EU where the contraction in the month exceeds 30% is Slovenia (-33%), but even so the Slovenian market is almost three times larger than the Bulgarian market, with more than three times less population.

Paradoxically, some markets also report pluses in November - even in full lodown like Greece (+2.4%). Ayre (+20%) and Cyprus (+11%) have the highest monthly growth, Denmark and Romania are also in the positive territory.

For the 11 months of 2020 Bulgaria is the second worst market, with a contraction of 36.5% (20 661 registrations vs. 32,511 a year ago). Only Croatia (-42.4%) is ahead of us, and close behind us are Spain (-35.3%) and Portugal (-36.4%). The least injured were the markets in Norway (-7.8%), Lithuania (-16.2%), Sweden (-16.4%), Denmark (-16.5%), Finland (-16.7%) and Cyprus (-17.4%).

And here are the best-selling models in Europe this year:

Mazda - 105 710

37% decline in November and 42% since the beginning of the year. Part of this is also due to supply difficulties.

MINI - 108 591

Just under 7% drop for BMW's British brand in November. Since the start of the year, sales have shrunk 18% on 2019, market share has increased by a tenth to 1.2%.

Nissan - 187 136

Japanese sales collapsed in the first half of the year, with a 14% drop in November not so bad. Market share decreased by a tenth and is already 2.1%.

Volvo - 197 386

In difficult times, the premium segment performs better than the mass. Volvo has a 10% decline in November, and 17% since the beginning of the year, increasing its market share to 2.2%.

Seat - 284 104

The closure of Spain for the second time this year dealt a heavy blow just as Seat was beginning to rebound. The result is a 21% decline in the month and a total of 28% since the start of the year. Market share fell one-tenth to 3.2%.

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