More premium brand buyers go for second hand cars

Approximately 90% of the total premium car registrations on the domestic market are second hand models imported from Western Europe, up from 70% in 2007.
The percentage of customers that bought a new Audi or Mercedes-Benz in the first seven months of this year is lower compared with the same time of 2009, reveal the statistics of the Driving Licenses and Vehicle Registration Department, as more and more people chose to import a second hand car from Western Europe.
“There is a really wide gap between registrations of new and second hand cars in the case of premium brands especially. The second hand cars are usually almost new, up to five years old and are Euro 4 compliant so as to minimise the registration tax,” said Nicolae Sorescu, head of the automotive division of the R`d`cini Group, which owns dealers of Opel, Chevrolet, Mazda and Suzuki brands.
The only exception on the premium segment is BMW, which went up from 7% new car registrations from January through July 2009 to 15% in the same time of 2010.
A premium car loses about 30% of its value in the first year, more than a volume brand.
On the other hand, things are almost unchanged on the segment of luxury cars, with prices above 100,000-200,000 euros, this year. The clients of such brands as Ferrari or Maserati continue to buy new models.