25/01/2013 12:52
Thirty thousand fewer saloon cars were sold last year compared to the record year of 2008, according to official data released today. The market condition is going from bad to worse as the shrinking household incomes and the bad banking conditions led purchasing interest at lowest levels since 2000.
The market circles see no light at the end of the tunnel as the macroeconomic conditions are expected to worsen in the coming months.
The dominant feature to potential buyers is procrastination and reluctance, while price has become the determining factor in the markets.
Total private saloon car registrations decreased by 26.4% to 19,443 compared with 26,409 in 2011.
This is the lowest number since 2000. In 2008, the record year for cars, registrations had reached 49 thousand.
In 2012, new saloon car registrations fell 24.9% to 10,123 from 13,480 in 2011. This is the lowest number since 2003.
As for the used car registrations, they fell 27.9% to 9,320 compared to 12,929 in 2011, hitting a record low last seen in 1995.
The total number of motor vehicles (not only saloon) decreased 28.8% in 2012 to 25,829 compared with 36,264 in 2011.
The registrations of commercial vehicles and trucks decreased 45.2% to 2,517 in 2012 compared with 4,590 in 2011.
Light trucks declined 46.0% to 2,083 from 3,854 in 2011.
Heavy goods vehicles dropped 47.4% to 299 during January-December 2012 from 568 in the corresponding period of 2011.
As for December 2012, private saloon cars fell 27% to 1,443 compared with 1,978 in the corresponding month of 2011.
Forecasts for decline of 15% in 2013
The downturn in the car market will continue in 2013, car importers estimate because of uncertainty about the state of the economy and the conclusion of the memorandum with the troika. At the same time, they believe that the negative sentiment is burdened by the reluctance of banks to lend customers, but also the psychology and fears of the consumers due to the shot of unemployment and their lower incomes.
Unicars CEO, Alexandros Diogenous said the car market in 2013 "will go down 20% -25% based on current data and if external conditions do not change. The market is down by 65% compared to 2008”.
Ford Operations Manager, Charalambos Papacharalambous said; “A reduction in registrations might be higher greater in 2013 than the decrease in 2012 due to the uncertainty in the economy and the memorandum, the fact that banks do not grant loans to customers easily and the difficult financial condition of the consumers due unemployment and lower incomes”.
A reduction of 20% -25% on car registrations if the same conditions continue in 2013 is also expected by Mercedes Sales Manager, Lakis Kostekoglou, stressing that the construction and automotive industries have been severely hit by the financial crisis because they are not emergency goods.
Toyota Sales Manager, Demetris Melanthiou sees a 25% decline in registrations in 2013.
"This drop is attributed to the uncertainty in the economy as yet it is not clear what will happen with the memorandum, the reluctance of banks to go on lending, the rising unemployment and the lower income of the consumers”.
"People are afraid to borrow. In order things to get changed there is al need to change the psychology of consumers first and then to change the economic circumstances”, Mr. Diogenous concluded.
The market circles see no light at the end of the tunnel as the macroeconomic conditions are expected to worsen in the coming months.
The dominant feature to potential buyers is procrastination and reluctance, while price has become the determining factor in the markets.
Total private saloon car registrations decreased by 26.4% to 19,443 compared with 26,409 in 2011.
This is the lowest number since 2000. In 2008, the record year for cars, registrations had reached 49 thousand.
In 2012, new saloon car registrations fell 24.9% to 10,123 from 13,480 in 2011. This is the lowest number since 2003.As for the used car registrations, they fell 27.9% to 9,320 compared to 12,929 in 2011, hitting a record low last seen in 1995.
The total number of motor vehicles (not only saloon) decreased 28.8% in 2012 to 25,829 compared with 36,264 in 2011.
The registrations of commercial vehicles and trucks decreased 45.2% to 2,517 in 2012 compared with 4,590 in 2011.
Light trucks declined 46.0% to 2,083 from 3,854 in 2011.
Heavy goods vehicles dropped 47.4% to 299 during January-December 2012 from 568 in the corresponding period of 2011.
As for December 2012, private saloon cars fell 27% to 1,443 compared with 1,978 in the corresponding month of 2011.
Forecasts for decline of 15% in 2013
The downturn in the car market will continue in 2013, car importers estimate because of uncertainty about the state of the economy and the conclusion of the memorandum with the troika. At the same time, they believe that the negative sentiment is burdened by the reluctance of banks to lend customers, but also the psychology and fears of the consumers due to the shot of unemployment and their lower incomes.
Unicars CEO, Alexandros Diogenous said the car market in 2013 "will go down 20% -25% based on current data and if external conditions do not change. The market is down by 65% compared to 2008”.
Ford Operations Manager, Charalambos Papacharalambous said; “A reduction in registrations might be higher greater in 2013 than the decrease in 2012 due to the uncertainty in the economy and the memorandum, the fact that banks do not grant loans to customers easily and the difficult financial condition of the consumers due unemployment and lower incomes”.
A reduction of 20% -25% on car registrations if the same conditions continue in 2013 is also expected by Mercedes Sales Manager, Lakis Kostekoglou, stressing that the construction and automotive industries have been severely hit by the financial crisis because they are not emergency goods.
Toyota Sales Manager, Demetris Melanthiou sees a 25% decline in registrations in 2013.
"This drop is attributed to the uncertainty in the economy as yet it is not clear what will happen with the memorandum, the reluctance of banks to go on lending, the rising unemployment and the lower income of the consumers”.
"People are afraid to borrow. In order things to get changed there is al need to change the psychology of consumers first and then to change the economic circumstances”, Mr. Diogenous concluded.
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