Automotive trends, responding to a planned pollution fee, may undergo changes

2018-08-23

The Lithuanians consider a car as one of the most important purchases - every tenth inhabitant of our country is planning to acquire one over the next twelve months.  The specialists have noticed that cars are often changed because of their old age - fuel consumption of such cars is high and repair is expensive. The change of a vehicle is also driven by the ever-louder intentions to introduce new taxes imposed on the cars with the higher pollution emission.

According to a public opinion poll conducted on behalf of Šiaulių Bankas, almost half (44%) of people who plan to buy cars claim that their car is old and often go out of order. Almost every fourth (23%) of the respondents is convinced that his vehicle is uneconomic and, therefore, plans to buy a more economical car.

"Used vehicles prevail in Lithuania - according to the company Regitra an average age of a passenger car reaches 15 years. The government's intention to introduce a new tax on polluting cars will boost sales of newer cars. However, more and more Lithuanians are already of the opinion that the maintenance of an older car due to high fuel costs and more frequent repairs is expensive, therefore, it is worth buying a newer and more economical vehicle", - said Mindaugas Vasiliauskas, Director of Šiaulių Bankas Leasing Department.

The survey showed that more than a half of the interviewed men plan to buy a newer car after selling the owned one and a fifth is determined to save extra funds for a newer vehicle.Whereas, women are more likely to buy a newer vehicle by means of lease - such  financial solution would be appropriate for 42 per cent of women. Women are less likely to plan  saving for their new car than men - only 6.5%  of women would do so,  while a little more than one third of female respondents tend to finance the purchase selling their current car.

"Here in Šiaulių Bankas we’ve noticed that the acquisition of a car by means of lease is becoming more and more popular. In the first six months of this year, compared to the same period last year, the bank's passenger car leasing portfolio grew by 45% to EUR 68.5 mln. More and more newer cars are acquired through lease - their price is higher, however, money which is not spent on repairs and time saved  are paying off ", - commented M. Vasiliauskas.

According to the poll information, 17% of respondents are planning to buy their first car, these are mostly people aged 18-25. Almost a tenth of the population plans to buy a second car because one vehicle is not enough for them.

The public opinion poll was carried out in May this year at the request of Šiaulių Bankas. The residents from all regions of the country whose age varied from 18 to 75 took part and a total of 1,005 respondents were interviewed.