The car trade is currently experiencing its worst deficit times since the collapse of the USSR

The car market in September experienced a 7.6% decline compared to August 2020 (1321 units against 1429). Car sales are currently experiencing the largest periods of deficit since the collapse of the USSR, when demand significantly exceeds supply, car dealers’ warehouses are empty and both warehouse additions and cars ordered by customers are delayed.

The car deficit has had the biggest impact on market leaders. Although they maintain their leading position, their market share has decreased significantly. The market leader is still Toyota, whose market share has shrunk from 20.36% in 2020 to 13.6% in 2021. The same fate befell the followers. The market shares of VW and ŠKODA have decreased from 11.12% to 7.95% and 14.25% to 7.65% compared to 2020, respectively. This is largely due to the fact that market share is currently determined by the availability of cars in warehouses, which for many is quite limited, not to mention non-existent.

The internal combustion car deficit has significantly improved the share of electric cars in the overall statistics. In September, 45 new electric cars were registered, which is 3.8% of all new passenger cars sold in September. A particularly interesting picture is in the premium segment, where electric cars make up as much as 23.9% of the segment. In this respect, we are approaching the Nordic level. Overall, the new electric car market has grown by 30.3% compared to the previous year (301 vs. 231).

The light commercial vehicle segment has also experienced a sharp decline. It decreased by -10.1% compared to September 2020 (1101 against 1225). The heavy commercial vehicle segment continues to grow. 148% against September 2020 and 165% against the same period in the year as a whole. Bus deliveries to regional carriers are also gradually coming to an end. Only 4 buses were delivered in September, which is still a 33% increase compared to September last year.

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The deficit in the new car segment provides an increase in the used car segment, with 5454 units imported in September, which is 19% more than in September 2020 (4570).

The used electric car market continues to make a big breakthrough with 67 units. And overall it accounts for a significant 1.2% of total used car imports. This segment is consistently dominated by the BMWi3 electric car. Which accounts for 50% of all imported electric cars.

“Currently, the market is distorted due to interrupted supplies. A deficit has arisen, so car availability has become a key aspect of competition. At the same time, this is an opportunity to facilitate the entry of electric cars into the market ”.

Source: autoasociacija.lv