Car prices dropped by over 10 percent last year in Romania, which represented one of the biggest price reductions in the European Union, after those in Slovenia, Latvia and Slovakia, according to a report from the European Commission.
The drop in prices was mainly due to the stimuli for new car purchases which were meant to weather the impact of the economic recession. Car prices have dropped in 24 out of the 27 member states during 2009, stayed the same in the Netherlands and went up in UK, by 7.7 percent and Sweden, by 2.7 percent.
Prices in Spain went up by 4.7 percent, while Italy, Germany and France have seen moderate drops, between 0.6 and 1.1 percent.
While car prices decreased, repairing cost and spare parts costs have increased, which means stricter competition norms are required in the sector, according to the EC.