Bulgaria Witnesses Surge in New Car Sales, Outpacing European Trends

Business | March 21, 2024, Thursday // 16:13|  views


Bulgaria experienced a substantial surge in new car sales during February, marking a significant increase of nearly 60% compared to the same period last year. According to data released by the Association of European Automobile Manufacturers (ACEA) and reported by BNR, a total of 3,608 new cars were registered in Bulgaria last month, reflecting a robust growth trajectory in the automotive sector.

The momentum extended to the year-to-date figures, with January and February combined showing a remarkable 58.1% increase in new car registrations, totaling 7,588 units. This surge underscores a positive trend in consumer confidence and purchasing power within the Bulgarian automotive market.

Meanwhile, the European Union also witnessed a notable uptick in new car sales during February, with a 10.1% increase compared to the same period last year. Leading car markets such as France and Italy reported significant growth rates, contributing to the overall upward trajectory in EU car sales.

Of particular note is the increasing popularity of electric and hybrid vehicles across Europe, with sales of new electric cars growing by 9% and hybrid cars by 24.7% in February. This trend is reflective of shifting consumer preferences towards more environmentally friendly transportation options, as evidenced by the rising market share of electric and hybrid vehicles.

Despite the overall positive trend, Bulgaria saw a slight decline in the sales of new electric cars during February, registering a 15.2% decrease compared to the previous year. However, this was offset by a significant increase of 69.8% in the sales of new hybrid cars, indicating a growing interest in alternative fuel vehicles within the Bulgarian market.

It is noteworthy that gasoline and diesel cars continue to dominate the Bulgarian automotive market, with sales of these vehicles witnessing a notable increase of 64.4% and 58% respectively in February. This underscores the ongoing demand for traditional fuel-powered vehicles, even as the popularity of electric and hybrid cars continues to rise.

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Tags: Bulgaria, New, cars, vehicles


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