Romanians no longer buy houses, but buy cars hard: in the midst of crisis, registration slams

Recent analyzes on the real estate and car market in Romania indicate a declining trend in demand for housing, while cars are sold like hot cakes. Moreover, Romanians are rushing to the new cars, to the detriment of the used ones.

If you are still wondering what Romanians are doing with their money, in the midst of inflation, here is an analysis that shows us that we are not too afraid of price increases, since many of us buy cars during this period:

Wave of registrations across the country

According to the Romanian Automobile Manufacturers Association (ACAROM), car registrations increased by 24.05% in May. So last month alone, our Romanians registered 10,198 cars all over the country.

The car market is enjoying a significant growth trend, although we are going through a difficult economic period, marked by instability and significant price increases in all sectors!

According to the quoted analysis, in the first five months of this year, 47,645 new cars entered circulation. And from this perspective, there is an increase of 32.92% compared to the similar period of 2021 when 35,845 units were registered.

Most registrations take place under the Dacia brand, the source notes, respectively 12,616 units. In second place is Hyundai (3,921 units), followed by Ford (3,699 units).

The ranking is completed by Toyota (3,565 units), Skoda (3,307 units), Volkswagen (2,934 units), Renault (2,788 units), Peugeot (1,636 units), Mercedes-Benz (1,590 units) and Kia (1,090 units).

It is interesting that Romanians have, during this period, a greater appetite for new cars, to the detriment of used ones. Thus, the second-hand car market records a real decrease, estimated by experts in the field at 5.1% for May of this year, to 29,952 old registered cars.

Analyzing the evolution of the used car market during January – May 2022, the decrease is much more pronounced, a sign that we are talking about a lasting phenomenon, not a momentary one. Thus, during the reference period, registrations in this area recorded an estimated decline of 19.05% compared to the same period last year.