Discounts breathe a little life into car market

Discounts of up to 40% and the start of the renewal of the local vehicle fleet renewal programme have prompted a slowdown in the in the market decline rate to 50% – 14,800 vehicles, according to market players, whilst January and February saw the car market down by 65% and 62% respectively. “In March, discounts reached a high and helped slow down the auto market decline. The car fleet renewal programme did not have a major impact because it started in the last week of the month, but it did help prop up the market,” said Ernest Popovici, president of the Romanian Automotive Manufacturers and Importers Association. March saw over 52,000 second-hand cars being registered, the majority of which were imported before December 15th, and were subject to the old pollution tax, which came into force on July 1st, 2008. “Second-hand car registrations had a major impact on the auto market, generating a 50% decline. Secondly, a client’s decision to acquire a car continues to be affected by the blurry economic situation, and banks grant very few loans,” said Ernest Popovici.