3.5bn euros evaporate from the auto market in 2009

Sales of cars and commercial vehicles are estimated to be
worth 2 billion euros this year, down by almost two thirds against
last year, according to ZF estimates. “The turnover decline on the
car market this year came as a result of the severe decline in the
volume of vehicles sold in the context of the crisis, as well as of
the discount campaigns conducted by dealers and importers. The
price cuts resulted in an around 8-9% decline this year,” said
Constantin Stroe, vice-president of Automobile Dacia, and president
of Romanian Automotive Manufacturers Association (ACAROM). In the
first 11 months of this year vehicle sales fell by 55% compared
with the same time last year, to 138,098 units, according to market
players. November saw the lowest decline seen this year, by 31%,
with vehicle sales starting to fall in November 2008 because of the
economic crisis.