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BULGARIAN PASSENGER CAR MARKET: DYNAMICS AND PERSPECTIVES

Yulia Hristova

Abstract

The European car market is progressing with a relatively fast pace during 2017 and the trends in the development of the new car registration in Bulgaria are advancing even further. The automobile industry and the automobile market generate high gross value added in the development of the economy of all countries, which is the rationale for the research of the dynamics and the structure of car sales. The main aim of the current paper is to indicate some fundamental perspectives for the development of the car market in Bulgaria, through the investigation of the dynamics and the trends of the market and a comparison of the Bulgarian car trade market with the market of the EU. Through descriptive and comparative analysis of information of new car registration, motorization rate, the average vehicle age and the preferences towards the different car brands, the state of the passenger car market in Bulgaria and EU is analyzed in the period between 2012-2017. Data from ACEA, Eurostat and CAT (Control of automobile transport in Bulgaria) is used. The investigation establishes that the number of registered cars in Bulgaria is increasing double the rates of those in the EU. Every second Bulgarian owns a car, however the auto park in Bulgaria is one of the oldest. The findings of the research support the hypothesis for a consequent development of the passenger car market, related to the purchase and the registration of an increasing number of used cars, which will leads to a consequent aging of the auto park, and an increased number of vehicles per capita and at the same time strengthening the intensity of the competition between the authorized importers of new cars and the independent car dealers that offer used cars.

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DOI resolver: doi.org/10.5593/sgemsocial2018/1.4/S04.008

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