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Romania Autos Report Q3 2009
Market |
Automotive and Parts |
Report Type |
Market Research |
Country |
Romania |
Published |
6 July 2009 |
Number of Pages |
63 |
Download |
|
Immediate |
|
Publisher |
Business Monitor International |
Industrial output in Romania was down by 11.8% year-on-year in Q109
Industrial output in Romania was down by 11.8% year-on-year (y-o-y) in Q109, and acted as a significant drag on economic growth. Indicators do not yet suggest a rapid recovery and this is particularly visible in the autos industry. In April, new car registrations were down by 51.8% y-o-y to 11,052 units compared with 22,943 in April 2008. 4M09 saw 40,141 new cars registered, a fall of 58.6% y-o-y. Meanwhile, the Europe–wide downturn resulted in a 17.2% y-o-y fall in vehicle registrations in Q1, according to estimates from the Association des Constructeurs Européens d’Automobiles (ACEA). Their statistics for 25 EU member states, excluding Cyprus and Malta, and European Free Trade Association (EFTA) states Iceland, Norway, and Switzerland for 4M09 showed 4.694mn cars registered, down by 15.9% y-o-y. The figure for Automobile Dacia registrations stood at 18,384 units, up by 137.6% y-o-y, and its market share increased from 0.6% to 1.6%. 49,855 Dacias were registered in the 28 European countries covered, up by 52.7% compared with 4M08. Renault had sales of 354,692 units, down by 17.6% y-o-y.
European carmakers have seen their profits collapse as consumer demand falls and cost cuts are implemented, in particular research and development (R&D) investments. In December 2008, the European Investment Bank (EIB) allocated just under EUR 7bn for lending to carmakers in H109.
However in May, the bank approved a maximum of EUR 400mn for Ford Motor’s Romanian division to invest in its two car factories in the country.
Also that month, Renault announced that its Romanian unit, Automobile Dacia, would begin selling the low-cost Sandero Stepway on the European market from September. This is the firm’s second model, after the Logan, designed for the South American market and later introduced to Europe. Since launching it last July, Renault has sold 60,000 units in Europe and the Maghreb region. The new Dacia Sandero Stepway will be available with a 1.6-litre petrol engine or a dCi 70 diesel engine, both to be built at Renault’s Pitesti Romania unit, and will share 95% of their components with the existing Sandero and Logan models. Spare parts will be sourced from existing Stepway suppliers in Europe and South America. Dacia expects the new range to account for up to 20% of its future Sandero sales with the potential to sell 6,000-12,000 units in the first year of release. Renault reported a 22% y-o-y decline in European sales in Q1, with the overall market down by 19% y-o-y in the same period. The report sees the new product release as a part of its Renault Commitment 2009 strategy, which envisages 26 new product lines released by end-2009.
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