An Audi that cost 40,000 euros in 2008 can be bought with 16,000 euros

The representatives of Autovit, the company managing the biggest car fair in Romania, located in Vitan district of Bucharest, considers that sales of used cars of its own fleet have risen in recent months amid the falling prices. "Prices for cars in the upper segment have plummeted. An Audi that cost 40,000 euros in 2008 now costs 16,000 euros. Against this background, the sales increase is normal," stated Nicolae Ragalie, a general manager with Autovit. He showed the used car market had been under pressure, but deals revived once sellers cut prices, which also boosted the number of visitors. Autovit estimates the highest demand for used cars is registered on the 10,000-15,000 euros price segment, while for the upper range car demand is still low despite the shrinking prices. Autovit mentioned that in 2008 sales were flat from the previous year. According to the Finance Ministry data, in 2007 Autovit reported turnover worth around 3.5m euros. For 2009, a slight turnover decline is expected as in parallel with car price decreases tariffs for rented spaces were also renegotiated.