Bulgaria: Prices of Second-Hand Cars Expected to Rocket amid Pandemic

Second-hand car dealers expect their prices to rise significantly due to a lack of imports, BNR reported. The main resons are the Covid crisis and the restrictions on the operation of various businesses.

Lyubomir Dorosev - manager of a car dealership firm and Vice-President of the Association of Importers in Bulgaria says that, on the one hand, there are not enough imports on the market of used cars, and on the other, they are expected to sell by about 10 to 20% more expensively because people in Western European countries do not change their old cars nor buy new ones.

"The purchasing power and number of people traveling abroad for buying cars have decreased dramatically, I would say up to 70%. Believe me, most car dealers who buy them buy at least 20-30% more expensive from other countries, and that also requires selling used cars a little more expensive."