Disastrous start to the year for Central, Eastern European car markets
Saturday 01 May 2010
The car markets in Russia, central and Eastern Europe are still in significant decline, according to data released this week by automotive analyst JATO Dynamics.
Car sales in the first quarter of 2010 dropped 12.4 percent in central and Eastern European markets, the company said April 30, from an already depressed level in 2009.
Less than 200,000 vehicles were sold across the entire territory for the first three months of the year, knocking perceptions of the market as a growth center for car sales. Hungary and Romania suffered the worst losses overall, will falls of 54.8 percent and 43.8 percent respectively.
Only Skoda managed positive news, remaining by far and away the most popular brand in the region with a 16.3 percent increase in sales - although this did little to mitigate the dismal performance across the rest of the market.
Russia's car market suffered worse, however, falling by over a quarter in the first three months of 2010.
Imported brands were the worst affected, said JATO, in part because of the structure of the Russian "cash for clunkers" programs. A new scheme worth 50,000 RUR (€1,125) per vehicle was introduced in March to attempt to arrest the decline.
"Russia's new car market continues to suffer, with a lack of affordable credit effectively blocking purchase of all but locally-built cars, which carry their own tax breaks," said JATO's Evangelos Hadjistavrou. "It remains to be seen whether the new government scrappage incentive will change its fortunes."
Nissan (down 54.7 percent), Ford (down 49.5 percent ) and Toyota (down 37.6 percent) have all been severely affected in the Russian market.
The top ten models in Central and Eastern Europe - Q1 2010
1. Skoda Octavia
2. Skoda Fabia
3. Dacia Logan
4. Volkswagen Golf
5. Opel Astra
6. Ford Focus
7. Renault Megane
8. Toyota Yaris
9. Volkswagen Polo
10. Kia Ceed
The top ten models in Russia - Q1 2010
1. Lada Priora
2. Lada Samara
3. Renault Logan
4. Lada 2104/2105/2107
5. Lada Kalina
6. Ford Focus
7. Lada 4X4
8. Chevrolet Niva
9. Daewoo Nexia
10. Chevrolet Lacetti
Data from JATO Dynamics - http://www.jato.com
Life & Style blogs
Alexander McQueen at auction: What makes a really great piece of fashion?
A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
No female ejaculation, please, we’re British: a history of porn and censorship
Stressed nurses are 'forced to choose between health of patients and their own'
Pornhub: Kim Kardashian's sex tape is the most-watched porn video of all-time
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Sony hack: Angelina Jolie branded 'seriously out of her mind' in further embarrassing leaked email saga
Panic Saturday: 13 million Britons spend £1.2bn – while 13 million others across the country live in poverty unable to afford food
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
£35200 per annum + Pension and holidays: The Jenrick Group: Maintenance Engine...
£14000 per annum: Recruitment Genius: This fast growing specialist merchant co...
£20000 - £30000 per annum + OTE £50k: SThree: SThree are a global FTSE 250 bus...
£20000 - £25000 per annum + OTE £40,000 + Car + Pension: SThree: SThree are a ...