Loading ...The number of second-hand registered cars almost doubled over the first four months of the year, from 20,409 in the similar period of the past year to 58,103 units this year, the Association of Car Producers and Importers in Romania informs.
While sales of new cars report significant drops, the second-hand car market is on the rise, due to the new formula of the first registration tax.
Director of Autovit second hand car park Liviu Dobrin said that the gap between the second hand and new car market would reduce this year. He says that the current formula of the first registration tax could be eliminated by year-end, which will increase the advance of the second hand car market.
Last year, the ratio between new and second hand cars was 3 to 1, but the ratio might become 1 to 1 by year-end, while the ratio is 2 to 1 at the moment.
Sales of new cars in the first five months of the year dropped 1.6%, compared to the previous period of the past year, reaching 114,058 units, according to the Association.
The drop is caused by the modification of the first registration tax, increased for the new cars and reduced for second hand cars, but also by the cease in production of Daewoo automobiles. A third reason is a more restricted access to credits this year, the association informs.
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