The deficit of new cars is filled by the used vehicles segment
The Moller Auto company, which represents the Volkswagen and Audi car brands, has
calculated the results of car sales for the first half of this year. Although there were fewer
new car sales, the used car segment grew, and the biggest breakthrough came in the electric
car category.
The company recorded the highest sales growth in the electric car category. Sales of new
electric cars increased by 36%, and used cars sold almost 20 times more.
“Lithuanians are encouraged to get behind the wheel of electric cars due to tax incentives, lower car maintenance costs and a significantly lower impact on the environment. Also such details as free parking and a special traffic lane for electric cars. Residents began to see electric cars not as a symbol of the distant future, but as a solution for the present, which is not only environmentally friendly, but also less straining on the pocket. The extraordinary geopolitical and economic situation - the war in Ukraine and a record 21% inflation,” says Izīda Gerkena, COO of Moller Auto in the Baltic States. According to her, the demand for electric cars should increase even more from 02 June of this year. The Environmental Projects Management Agency (EPMA) has updated its incentive measure - 2,500 euros compensation for those who buy a used electric car and 5,000 euros compensation for those who buy a new one. A total of EUR 35 million is planned to be paid out.
The deficit of new cars
In the first half of this year, the company sold a third (29%) less new cars in Lithuania than in the same period last year. Meanwhile, the situation is opposite in the used car market, where the company sold as much as 60% more this year. The biggest influence on the overall decrease in new car sales was the drop of one third (31%) in the sales of fuel-powered new cars. Meanwhile, 52% more used fuel-powered cars were bought. In the first half of this year, 70% more new hybrid cars were sold than at the same time in 2021.
“Although the sales figures for new cars have fallen, their demand has not really decreased. The production and supply chain challenges that continue to plague the automotive industry have had a major impact on these results. Lithuanians who wanted to buy new cars felt these challenges even during the pandemic. As long as there is no end of the war in Ukraine in sight and the threat of another wave of the pandemic is looming, the supply of new cars will fail to meet the demand. However, the deficit of new cars during this period is successfully filled by the segment of used cars,” says I. Gerkena.
The most popular car models
The VW Tiguan, VW T-Cross, VW Passat, VW T-Roc and VW Caddy are the leaders among the new fuel-powered cars in the first half of this year. Among the new hybrid cars, Lithuanian- favourite models are the VW Tiguan, VW Multivan and VW Arteon, and among the new electric cars, the Audi e-tron, VW ID.3, VW ID.4, Audi Q4 e-tron and VW ID.5.
This year, VW Passat, VW Golf, VW Tiguan, VW T-Cross, Audi A6 are leading among fuel- powered used cars. Among the hybrid used cars, the most popular are VW Golf, VW Tiguan, Toyota Auris. Meanwhile, in the ranks of used electric cars one will find Audi e-tron, Audi Q4 e-tron, VW ID.3, VW up!, VW Golf.
“From the first half of last year, this year’s most popular car models are mostly similar - this shows that people like and trust these cars. Their ranks were joined by the updated VW T- Roc model, as well as brand new VW Multivan and VW ID.5 models,” sums up I. Gerkena.
Published on: 19/07/2022