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Bulgaria Autos Report Q3 2011
Business Monitor International, June 2011, Pages: 55
Business Monitor International's Bulgaria Autos Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Bulgaria's automotive industry.
Prospects for the Bulgarian car industry are picking up with the progress being shown at the Great Wall Motors plant in the country. The Chinese firm has said that it may invest a further EUR300mn in the plant, which is likely to play an important role in the country's plans to expand its domestic production of cars and components. Additionally, the Bulgarian car market has continued to recover from the slump caused by the recession. New car sales in Bulgaria increased by 17% year-on-year (y-o-y), to 4,638 units in Q111, compared with 3,956 units in Q110, reports Sofia News Agency citing data released by the Association of Car Importers. Meanwhile, total vehicles sales, including cars, trucks, buses and motorcycles, reached 4,888 units, compared with 4,116 units in Q110. German automaker Volkswagen was the best selling brand during Q111 with sales of 567 cars.
Last year was an up and down year for the Bulgarian auto market. Car sales continued to decrease compared with 2009, but towards the end of H110, sales did begin to pick up. New vehicles sales in Bulgaria rose by 9% y-o-y, to 1,920 units, in November 2010, reports Dnevnik, citing data released by the Association of Car Manufacturers and their Authorised Representatives (ACM). New vehicles consisted of light vehicles, lorries, buses and motorcycles. However, new car sales declined 29.6% y-o-y, to 17,327 units, during January-November 2010, compared with 24,643 units during the same period of 2009. BMI predicts that total sales will reach close to 31,939 units in 2015, only partially recovering from peak sales of 55,236 units in 2008.
Turkish automotive glass producer Sisecam has opened a new production facility in Targovishte in Bulgaria. The facility, which will manufacture autoglass for carmakers in Europe and the Balkans, will have an annual production capacity of 1.3mn m2 of glass and will generate 130 new jobs. Sisecam's Bulgarian investment is US$405mn at present, according to Ahmet Kirman, Sisecam's chairman.
UK electric car specialist Zero Carbon 2020 will open an assembly line to produce electric cars in Stara Zagora, Bulgaria, according to its founder and CEO Jamie Roberts. He added that the assembly line, which will have an initial production capacity of about 100 cars, has been backed by Bulgarian Prime Minister Boyko Borisov. Production of the electric vehicles will begin in Q211 or Q311, said Roberts.
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