3.5bn euros evaporate from the auto market in 2009

Sales of cars and commercial vehicles are estimated to be worth 2 billion euros this year, down by almost two thirds against last year, according to ZF estimates. "The turnover decline on the car market this year came as a result of the severe decline in the volume of vehicles sold in the context of the crisis, as well as of the discount campaigns conducted by dealers and importers. The price cuts resulted in an around 8-9% decline this year," said Constantin Stroe, vice-president of Automobile Dacia, and president of Romanian Automotive Manufacturers Association (ACAROM). In the first 11 months of this year vehicle sales fell by 55% compared with the same time last year, to 138,098 units, according to market players. November saw the lowest decline seen this year, by 31%, with vehicle sales starting to fall in November 2008 because of the economic crisis.