Scrappage Plan Loses Its Lustre

BMI is concerned the effects of Romania's vehicle scrappage scheme, called the 'Rabla' (Junk Car), are slowly waning, after a 25% year-on-year (y-o-y) fall in new car sales in April marked the lowest monthly sales in 15 months. This adds to our existing fears that, despite the plan, new vehicle purchases in Romania in 2010 will remain hampered by a lack of financing, low income levels and the weak economic recovery.

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