Czech car prices lowest in Europe

A new study by Price Waterhouse Coopers has shown that Czech car prices are apparently the lowest in Europe, standing 8 percent below the European average owing to lower interest in new cars. Following last year's accession to the European Union, experts predicted prices would grow as differences between prices in the EU narrowed. But, says Antonin Sipek, director of the Association of Automotive Industries, dealers began a price war as interest in new cars decreased rapidly. Over the past 12 months, the Czech Republic has been the only country in which prices have fallen, posting a 1.2 percent drop.

On the whole Czech car sales have been falling by an annual 9 percent over the past two years. The drop in sales has affected all vehicle categories.

Author: Jan Velinger