Brexit will hit Lithuanian used car owners

DELFI / Mindaugas Ažušilis

Great Britain’s decision to leave the European Union may adversely affect the Lithuanian car market, albeit indirectly. Many car parts sold in the country come from the United Kingdom, so it is likely that they will become more expensive.

Used cars sold, on average, for €3,400 over the first quarter of 2015, but in the last quarter it grew by more than a tenth, to €3,800.

The first quarter of this year showed that the figures were not changing, a long awaited sign of stability in the market.

According to public enterprise Regitra, AutoTyrimai and Autoplius.lt, in the second quarter of 2016, 101,000 car-related transactions were completed: 62,100 involved car resales within Lithuania, 32,000 imported cars and 6,900 new car transactions.

Growth in the the car market was recorded in all three Baltic countries, in Lithuania new car sales were particularly active. During the second quarter of this year, nearly one third (29.1%) more new vehicles were sold. Lithuania is ahead of Latvia in terms of new car sales, but behind Estonia.

LRT

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