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Cars: EY: Automobile industry in Romania will stabilize this year after major decline
The automobile industry in Romania will stabilize this year after a period of major decline, according to the new report Changing Lanes 2014-15: the automotive C-Suite’s agenda, made by EY Global Automotive Center.
“Provisions concerning the automobile industry in Romania show an overall stabilization in the automobile market in 2014, in the context of an expected global economic recovery benefitting the local automobile market. The Romanian market has been one of the most affected by the crisis, but following a period of major decline car sales are expected to return to a normal path this year. These growth expectations start from the low 2013 sales and of growing demand after several years of decline and delayed purchase decisions,” says Ariadna Oslobeanu, Senior Manager, Assurance, EY Romania.
Moreover, 2014 might be the last year when the “Old Car” program functions and people may take advantage of its facilities leading to additional sales in 2014, she added.
“According to the statistic data published, we can already see an increase of overall car sales compared to the same period of 2013, backed by purchases made by companies. However, it is hard to say how solid the return is, when the recovery of European economy is uneven,” concludes Ariadna Oslobeanu.
The EY study is based on an opinion poll made on 100 executive managers in the automobile industry at global level and extensive analyses of the industry.