Bulgaria's Second-Hand Cars Market Shattered by Crisis

Business | August 6, 2009, Thursday // 09:40|  views

The prices of second-hand cars in Bulgaria have dropped up to 4 times. Photo by news.stara-zagora.org

The economic crisis has led to the drastic fall of prices of second-hand cars in Bulgaria.

The prices of some model have dropped 4 times, and the average profit per car has declined from EUR 2 000 to EUR 500, according to a report of the BTA.

Second-hand car traders have complained that they were forced to make all sorts of discounts, and that customers had even suggested leasing agreements.

A trader importing second-hand cars from Germany is quoted as saying that the prices of second-hand cars would continue to fall since the number of the likely buyers was actually smaller than the number of the cars being imported.

Most of the second-hand cars in Bulgaria come from Germany and Italy. The ones from Germany are the object of the highest demand since they are known for their good maintenance. The Italian-imported second-hand cars are about EUR 200-300 cheaper.


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Tags: second-hand, car market, Germany, Italy, Global Financial Crisis


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