New car registrations up by 11% y/y in Q1

As many as 139,900 new passenger cars were registered in Q1, 11 percent more than in the corresponding period of last year, according to a report prepared by consultancy KPMG and sector lobby PZPM. "Despite the significant increase in registration by individual customers, we have been dealing with a steady and growing share of company purchases for years, although the demand for cars among individual buyers is increasing, their share has decreased once again, to less than 35 percent. It remains to be believed that this tendency will be halted, although the current results do not indicate it," said President of PZPM Jakub Faryś. Compared with last year, the growth rate of institutional customers responsible for 65.3 percent of the orders slowed down to 13 percent, after the 25 percent increase last year.