Car market, Estonia, Transport
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Nordea Liising: Estonian car market to grow by 50% in 2011
Juhan Tere, BC, Tallinn, 11.01.2011.
Print version
Print versionNordea Liising board chairman Silver Kuus forecasts that the sale of new cars in Estonia will grow in 2011 by nearly 50% to 12,000 new cars while reaching the level of boom years may take up to 5 years, LETA/Äripäev.ee reports.
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The new vehicles sales market in Estonia took an upwards turn last year in May and altogether around 11,000 new vehicles were sold at the market which was in line with Nordea’s expectations of annual growth of nearly 13%.
Nordea forecast that this year the growth rate at the new vehicles market should be 25-35%. 14,000-15,000 new vehicles would be sold at the Estonian market, including nearly 12,000 new cars.
Nordea said that in the coming years, the new car sales would be restored to a level corresponding to Estonia’s size and wealth i.e. 15,000-20,000 new vehicles. The 2007-2008 boom years sales volumes 25-30,000 new vehicles were clearly an exaggeration and return to comparable levels will not happen before 3-5 years.
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