Bulgarian vehicles sales grew 10.8% in 2018 improving for the fourth consecutive time, ending the year with 41.390 sales. Dacia is still the market leader – up 8.9% – followed by Renault and Skoda.
Third-quarter growth fell short of expectations due to another poor outturn for the external sector. Hit by neighboring Turkey’s economic crisis, exports contracted for a second straight quarter; import growth, on the other hand, held broadly steady from a quarter earlier. Meanwhile, domestic demand fared well thanks to brisk household spending in line with falling unemployment and the recent recovery in retail sales.
Available data for the fourth quarter hints at slightly slower growth. Nevertheless, analysts have largely stuck to their guns and their growth forecasts remain upbeat despite weaker consumer sentiment and near-neutral business sentiment in October. Moreover, further volatility in Turkey continues to threaten exports.
Slower employment growth and elevated inflation are expected to hit household spending next year, although supportive fiscal policy in the run-up to next year’s European and local elections should cushion any moderation. Fixed investment, meanwhile should continue benefiting from low interest rates and above-average absorption rates for EU funds.
Bulgarian vehicles market in recent years has moderately recovered from the huge fall reported in the 2009. Market is improving since the 2013 and 2017 was the highest sales level in the last 5 years. Indeed, according to data reported by the Bulgarian Minister of Transportation, total 2017 light vehicles sales have been 37.435 (+19.8%).
In the 2018 the market is sustained by a robust demand. Indeed sales have increased by 10.8% from previous year, closing with registrations at 41.390. This is the fourth consecutive year gaining in double-digit. Moreover, sales have been largely impacted by re-export to other European Union countries.
At brand-wise, after 9 months of Renault leadership, in October the usual best brand has taken back the lead with few units and it is still ahead with 11.3% of market share.
Indeed Dacia is the market leader for the 6th consecutive market with 4.667 sales (+8.9%) is ahead of Renault with 4.317 sales year to date (+8.5%).
In third place Skoda with 3.752 (+32.7%) followed by Toyota with 3.386 (+13.6%), Volkswagen with 3.028 (+30.7%), Nissan with 2.928 (+38.2%), Peugeot with 2.409 (+1.2%) and Ford with 2.195 (-6.6%).
A special order from border police department lifted Great Wall sales in September with 217 units.
Tables with sales figures
In the tables below we report sales for all Brands and top 10 Manufacturers Group.