Financial crunch will further hurt budget car market
In the first eight months, luxury car sales climbed by 4.4% and reached a volume of 306 units, SUVs saw an increase of 14%, to 12,690 cars, while sales of small-class cars dropped by over 11%, to 43,172 units, according to APIA statistical data.
Viorel Niculescu, general manager of ATT, a Jaguar and Land Rover dealer, who previously held the position as Romcar general manager, believes the collapse of some US financial institutions and the financial crisis will indirectly harm the Romanian market.
He says the biggest impact over the car market is generated by the new banking market situation, which will tighten lending conditions and thus complicate the acquisition process not only for houses and cars, but for consumer goods, as well.
Another luxury brand, Ferrari, will deliver 14 units this year through Forza Rossa importer, while in Romania there are over 70 units informally imported over previous years.