Number of leasing contracts for Dacia cars falls 59 percent
December 9, 2008
The number of purchasing contracts for Dacia cars, under leasing, plunged 59 percent in Nov 2008, from the same month in 2007, said Dacia Co., on the basis of data supplied by RCI Banque Roumanie.
The fall comes after a 22 percent drop in Oct, compared with the same period in 2007.
In consequence of the plunge in the auto market in Romania, and in order to cut down the stocks, Dacia car maker halts production over Dec 11, 2008 – Jan 11, 2009, and will reduce the production pace, as of Jan 12, 2009. Although Dacia carmaker reported export success, the rise in the market shares does not make up for the general fall in the auto markets in Europe.
In Romania, the demand for new cars registered a drop of over 50 percent this Nov. The same month, Dacia marketed 4,698 cars in its domestic market, down 52 percent from Nov 2007.
This plunge is caused by an invasion of old cars and the limiting of the access to loans, with 70 percent of the new cars purchased by loan or under leasing.
As of July 1, 2008, a very big number of second-hand cars have entered Romania. In Nov alone, the Romanian Auto Register received 50,912 verification requests for second-hand cars. As many as 217,510 applications have been received after July 1, while in the first eleven months this year, registered were 331,558. Most second-hand cars imported after July 1, 2008 are older than ten years. AGERPRES
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