More Gloom Ahead

The promising new car sales figures, released in April, posting a y-o-y monthly increase of 32% appears to have heralded nothing more than a false dawn for the Romanian auto sector. This quarter, more sobering estimates produced by the European autos association (ACEA) in August showed that new passenger car sales for the first half of 2011 fell to just 31,758 units, representing a y-o-y fall of over 13%. As a result, BMI has revised our forecast for 2011 and we now expect a y-o-y fall in new car sales of 5% this year. This will mark the fourth consecutive

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