Finland has the cheapest car rates in Europe

Finland has the cheapest car rates in Europe

European Commission’s latest price survey has shown that car prices have gone down in many member states in the recent times. However, Finland tops the list with some of the cheapest prices for automobiles in the region.

Jonathan Todd, a Commission representative said: “Car prices have increased less than the price of inflation.” The statement added: “In some of the new member states such as Poland, Hungary, and Lithuania, vehicle manufacturers seem to have adjusted their prices downwards.”

In addition, the report also added that the difference between high and low prices, as measured by average standard deviation, has stayed steady at 6.4 percent in the EU as a whole. It was closer to around 4.4 percent in the Euro currency zone.

The report also mentioned that car prices in Poland dropped by 10.8 percent, in Lithuania by 7.2 percent, in Hungary by 4.3 percent and in Finland by 2.8 percent. On the other hand, they were up 2.4 percent, in Germany 1.8 percent and Denmark by 1.5 percent.”

This report was released just as the commission signed on an agreement with the auto giants BMW and General Motors. These two companies would now share some dealerships and service centers. The move was to enhance the competition in the market to make the prices more competitive for the end user.