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Bulgaria Autos Report Q4 2011
Business Monitor International, Sep 2011, Pages: 50
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.
BMI expects Bulgaria’s automotive market to continue to recover in 2011. BMI forecast that 21,416 vehicles will be sold in the country in 2011, an increase of 9.94% on the previous year. A total of 10,954 new vehicles were sold in Bulgaria in H111, marking a 21.3% increase from H110, according to Balkan Business News. Passenger car sales were up 19.6% y-o-y in the six-month period, with 10,287 vehicles sold, ahead of BMI forecasts of an 11.2% increase in passenger vehicles in 2011.
Discontent over rising fuel costs mounted in Q211, as gasoline prices reached record levels in July 2011. Despite this, RTT News reported a month-on-month increase in automotive fuel sales of 1.1% in May 2011.
CO2 emissions from new cars fell by around 8% in Bulgaria in 2010, above the overall decline of 3.7% seen in the EU. Prime Minister Boyko Borisov has been keen to emphasise his commitment to electric vehicle (EV) use and production. In particular, the Electric Vehicles Industrial Cluster (EVIC) has expressed the potential in converting cars using internal combustion engines into EVs, with the goal of having 50 such vehicles on the country’s roads by the end of 2011. The approach will take advantage of Bulgaria’s expertise in producing electric engines, while, at around EUR10,000, converted cars are a cheaper alternative to purchasing a new EV for around EUR35,000. In July 2011, EVIC reached an agreement to convert French carmaker Citroën’s Berlingo and Jumper model.
In addition, Bulgarian company REnergyX will work to develop the initial charging infrastructure across the country’s largest cities. These docks will provide free charging for EVs in the first year. After the initial roll out REnergyY plans to roll out its EV charging stations in larger Bulgarian cities such as Plovdiv, Varna and Burgos as well as holiday resorts along the Black Coast. In addition, EVIC has also recommended to the government that subsidies and free parking, as well has other incentives, are offered to EV drivers.
Meanwhile, in company news, Chinese carmaker Great Wall Motors’ joint venture with Bulgarian automaker Litex Motors is expected to complete production of its first vehicles in H211 at a plant in Lovech, after operations commenced in May 2011. Litex Motors hopes its partnership with the Chinese company will allow it to increase its presence in other European markets.
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