New car sales increased by 20.3 percent in the first quarter of this year compared to the same period of 2017, with 2018 recording the largest sales of cars registered in the first quarter of the last 10 years, Automotive Manufacturers and Importers Association (APIA) data show.
Sales are mainly supported by legal entities, which cover 70 percent of total purchases of cars.
Individuals bought 8,799 vehicles, 76 percent more than in the same period last year (4,996 units). As a result, their share increased in 2018 to 30 percent from 21 percent in 2017.
“It is noteworthy that this growth (as in the previous year) took place before the Scrappage (Rabla) program started, which shows that, in the current favorable economic climate, this program is no longer as important regarding individuals’ decision to purchase a new vehicle”, APIA notes.
In contrast, the number of new passenger car sales in the EU fell by 5.25 percent year on year in March 2018, following two consecutive months of rises. New car sales in Europe totaled 1,792,599 units in March, compared with 1,891,999 vehicles sold in the corresponding month of 2017, the European Automotive Manufacturers Association (ACEA) said.