Car sales on the Ukrainian market in 2014 at best will remain at the level of 2013, the market will not grow, Porsche Finance Group (PFG) board chairman Josef Graf considers.

"Everybody, who wanted to buy a car, purchased cars before the introduction of a vehicle recycling tax, i.e. in August-September. By the end of the year the demand will reduce, and we can see that the imposition of additional duties affects the car sales market. Companies selling cars have to make considerable efforts to keep on afloat and prevent a serious fall," he said.

The company said that in the first nine months of 2013 the demand for car purchases declined, but there is a small increase in services of car financing.

PFG reports that in January-October 2013 it sold about 15,000 cars under the Volkswagen, Audi, Seat and Porsche brands, more than 25% of which were sold using funding from Porsche Finance Group.

"At the same time, over the same period in 2012, some 16,000 vehicles were sold, the share of funding was 23.45%," reads a press release.

However, PFG in October 2013 noted a significant decline in the demand for cars associated with the introduction of a vehicle recycling tax.