“Moller Auto Keturi žiedai”: the car market has changed the most in the last 4-5 years

Moller Auto Four Rings estimates that the 25 years of the company's operation in Lithuania show the biggest changes in the market in the last 4-5 years. The market for used cars and new electric cars has grown significantly during this period.

According to “Moller Auto Keturi žiedai”, the number of used cars being bought each year is increasing: 121 in 2020, 136 in 2021 and 10% more in the first 9 months of this year.

"We started to record the growth of used car sales last year, this year it is even more pronounced. There are several reasons for this. With a shortage of new cars on the market, customers are increasingly choosing used ones. In addition, the emergence of new cars in showrooms is complicated by ongoing supply chain challenges and the microchip and semiconductor crisis that has hit factories. We, in turn, also paid more attention to the sales of used cars,” comments Isida Gerkena, Chief Operating Officer of Moller Auto in the Baltic States.

She predicts that, despite various disruptions and a difficult economic period, sales of both new and used cars are expected to grow. The latest data from Moller Auto on the Baltic countries show that the demand for new cars increased by a third in September compared to the same period last year.

"In 2020, the car market shrank due to the pandemic, and since then the recovery process has been underway. A sign of this is the growth of the premium car market. The results would have been even better if car manufacturers had not encountered the production problems mentioned above," says I. Gerkena.

She said that new and used car prices had risen in line with the increase in sales, driven by increases in raw materials and other production costs. The prices of second-hand cars have been further pushed up by a shortage of new cars and a corresponding increase in demand.

The Moller Auto Four Rings data shows that new car sales are still ahead of used ones. For example, in the first 9 months of this year, Audi Centre sold 222 new cars in Lithuania – 32% more than used ones. Despite the rapid expansion of the used car market, new car sales are also growing: in 2020, 159 new Audi cars were sold, compared to 237 in 2021. This year's sales are expected to surpass last year's sales, again," says I. Gerkena, adding that “Moller Auto Keturi žiedai” celebrates its 25th anniversary  this month.

She continues to say that of these 25 years of the company's existence, the biggest changes in the market are observed in the last 4-5 years. This stage is marked by the increased market penetration of electric vehicles, which is natural, as citizens are increasingly looking for greener solutions to reduce CO2 emissions.

According to the company's data for the last half of the year, the most popular Audi model among both new and used cars remains the Audi A6. The other members in both categories are identical. The second is the Audi Q7 and the third is the Audi Q5.

“Another trend in the automotive market is the growth of new electric vehicle sales. If in 2019, 2020 and 2021 they were bought after 8, then this year, before the end of the year, 22 Audi electric cars were sold. Meanwhile, the market for used electric cars is less active, with only 2 used electric cars bought each year. The Audi E-Tron is the clear leader here," says I. Gerkena.

Talking about the future of the car market, the expert is convinced that in 2-3 years it will change beyond recognition – people will buy cars mostly online, they will be able to order repair and maintenance works remotely, and a large part of the traditional services will no longer be needed, as, for example, the predominance of electric cars will eliminate the need for regular servicing, oil changes and other parts.

"The new cars will be able to connect remotely and make the necessary software updates, but this means that businesses will have to reorient their services. People already choose their cars online and only have to go to the showroom twice – to see the car in person and sign the contract. Whereas in the past, it used to take an average of 7 visits to buy a car," notes I. Gerkena.