Rushforth, Hyundai: Romanian Car Market Decline Comes To An End

05.30.2011 ZF English

The local car market has reached the bottom, and the price continues to be the main driver behind a purchase decision, says Allan Rushforth, vice-president and COO with Hyundai Motor Europe.

"The Romanian market is now one that has finally hit the bottom and is no longer falling. It is still a market of contrasts. SUVs still hold a major market share, which for us is good news, but also a market of price, which is still good news for us since we've got models on the low-price segment," Rushforth told ZF in an interview.

The rebound of the Romanian car market will directly depend on the recovery of the Romanian economy, Rushforth added.

"If this happens, it means sales will pick up.

Almost 8,500 cars were sold in Romania last month, down 14% from the same period of last year, while in the first four months the decline reached 13%, according to the data provided by the Association of Automotive Manufacturers and Importers (APIA).

Hyundai Auto Romania, part of Tiriac Holdings, in the first four months sold a little more than 800 cars, down 50% from a year ago, according to the data. On the other hand, the brand's car registrations rose by 14% to 407 units during the same interval. The gap between sales and registrations comes as almost half of sales were made to clients of other countries. Hyundai Auto Romania's turnover amounts to some EUR100 million.