The analysis by the Center for Economic Research and Reforms (CERR) reveals a decrease in activity in the automotive market in February. Last month, the State Traffic Safety Inspectorate (STSI) recorded the sale of around 115 thousand vehicles of all types, which is 20.4% lower than January and 6.3% lower than February last year.
Regarding passenger cars, sales volume amounted to 109.7 thousand units. The decrease was 14% monthly and 5.6% annually (0.4% less than February 2022).
The demand dropped significantly on the primary market, with 26.2 thousand passenger cars sold, 16.8% less than in January. However, compared to February last year, the demand for new cars increased by 8.4%.
Sales of new domestic cars increased by 7.7% annually, but compared to January, the number decreased by 17% to 23.5 thousand cars. The foreign car market grew by 15.6% annually to approximately 2700 cars, yet it was 22% lower than January.
On the secondary market, 83.5 thousand used passenger cars were sold in the month, 13% less than January and 9.2% less than February 2023.
CERR notes a decline in demand for electric cars in February; however, their sales tripled annually.
