RomaniaAuto0709 - National Association of Manufacturers

Transcription

Romania: Automotive Market Overview
Page 1 of 15
Corina Gheorghisor
Date (07/23/2009)
Summary
The automotive industry has been one of the most profitable branches of the Romanian
economy in recent years. In 2008 the Romanian car industry, covering both car and car part
manufacturers, experienced a turnover of $15 billion, larger than the $12 billion one recorded in
2007. The automotive industry brought important contributions to the state budget: VAT of
around $3 billion, tax on income of around $214 million and another $4 billion from exports, its
total turnover accounting for 8.5% of Romania’s GDP.
The total labor force in the industry (motor vehicle manufacturers and components producers)
consists of approximately 220,000 people. In addition, there is a significant number of people,
probably more than 136,000, working for tier-two or tier-three suppliers (raw materials, sheet
metal, ball bearings, assembly elements) as well as for companies providing utilities,
transportation and other goods and services.
Romania hosts automotive clusters with large networks of suppliers and components
manufacturers. Most of the Romanian suppliers work in joint venture with foreign partners, the
Romanian party providing production halls, utilities and engineering services, while some of the
major brands from the international car manufacturing industry bring in their know-how and raw
materials. These JVs are producing for both the domestic market (mostly for Renault-Dacia) and
the overseas markets. The two main car manufacturers in Romania are currently Dacia-Renault
and Ford.
Market Demand
Unlike previous years, when the Romanian auto market had been very active and experienced
steady growth, in 2009 the situation has changed, the decrease being significant. Already in
2008 the total car market fell by 11.7% to 324,080 units. The automotive specialists anticipate
that in 2009 the sales volumes may even turn back to the 2003 level. Over the first six months
of this year the aggregated domestic demand fell by about 60% compared to the 176,429 units
reported in the same period of last year. As regards commercial vehicles, in H1 of 2009, sales
have decreased by over 70%. The sales of new cars may drop in 2009 to approximately
130,000 units (i.e. the level of 2003), well below the estimate of 150,000 units made by dealers
a few months ago. In 2003 the total car demand amounted to 135,305 units (+20.8% as against
2002). A year later, in 2004, the total market underwent a new 33.7% increase, reaching
181,000 units.
Many auto dealers are expected to go bankrupt by the end of this year, since no spectacular
recovery of the auto market is expected yet.
In spite of the new economic slowdown, in the short/medium term, the scrapping incentive
program for the car fleets renewal, successfully implemented in several countries is expected to
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have a positive influence on car sales in Romania too. Thus, the $6,600 Logan, produced by
France's Renault, has become a winner thanks to Germany's $3,650 government rebate
available for new car purchases, as it is considered Europe's cheapest production car.
In Romania, the car ownership has increased significantly over the past three years, despite the
relatively low levels of disposable income, to an estimated 238 cars per 1,000 people in 2009.
According to the Global Insight Study, the average for new EU members was 186 cars and for
Western EU members, 508 cars.
Car ownership is heavily concentrated in and around the capital, Bucharest, where ownership
rates are double the national average. The Romanian car fleet totalled 5,072,000 units in 2008.
Total car fleet for 2008: 5,072,405 units, out of which:
Passenger cars-79%;
LCV+Bus-10%;
Commercial Cars-4%;
Others-7%
Source: Romanian Ministry of Administration and Interior
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Market Data
90,000
82,258
80,000
70,000
60,000
50,000
40,000
65,293
-19%
52,873
59,057
-59.3%
+34% 49,194
36,678
-58%
33,513
24,825
30,000
Q1 2008 (units)
20,000
Q1 2009 (units)
10,000
0
*the statistic includes Passenger cars, Commercial Vehicles and Buses
According to the NIS (National Institute of Statistics), the production and assembly of vehicles
has seen a decrease of 19%, reaching 52,873 units in Q1 2009. The only field with a slight
increase is the export, with an extra 34%, due to the car demands from Germany and France.
Export growth has been driven in recent years by Dacia, first with its Solenza and pick-up
models, and more recently with the Logan. Also, the import of cars has dropped by 58%, to
24,825 units so far in 2009. Sales of new vehicles (domestic and imported) have decreased by
59.3% in 2009 in comparison to the same period of 2008 according to APIA (Car Makers and
Importers Association).
Unlike 2007, when the
annual sales of motor
vehicles reached high
levels, with the total sales
amounting to 366,819
units, in 2008 the total
sales decreased by 11.7%.
Segmentation by
categories indicates
that sales of passenger
cars dropped by
14.1%%, to 270,995
vehicles, the sales of
commercial vehicles
increased by 3.7%, to
53,085 units.
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EXPORTS (FOB) AND IMPORTS (CIF), BY MAIN SECTIONS ACCORDING TO INS 2008
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Best Prospects
Car (motor vehicles market)
A) Total Market Size
B) Total Local Production
C) Total Exports
D) Total Imports
E) of which: Imports from
the US
2009
(estimation)
(USD Millions)
6,67
2007
2008 (estimation)
(USD Millions)
7.635
7,842
6,022
6,402
3,178
7,641
2,94
5,940
5,46
2,47
5,46
50
50
39
Local production. Local motor vehicle production in Romania increased in May 2009 by 8.1%
compared to same month of 2008, amounting to 28,567 units. In May 2008, 26,420 motor
vehicles were produced. Over the first five months of 2009, the growth was of 3.6% compared
to same period of 2008, amounting to 111,609 units. Over the period January-May 2008,
107,742 units were manufactured.
According to the Car Makers and Importers Association (APIA) in Romania, the car production,
the most important segment of motor vehicle production increased by 4.7% over the first five
months of 2009, from 100,476 units produced in the same period in 2008 to 105,221 cars this
year. In May 27,173 cars were produced, which meant a 15.6% increase compared to the
corresponding month of 2008, when 23,505 cars were manufactured.
The number of commercial vehicles manufactured over the period January - May 2009
decreased by 12% from 7257 units produced over the same period of 2008 to 6388 units in
2009. In May alone, the production of commercial vehicles fell 52.1% to 1394 units versus 2913
units produced in May 2008.
Exports. In 2008, Renault Dacia was one of the best performers on the European market and
Romania continued to be one of the main car-producing countries of Eastern Europe, besides
Poland, Hungary, the Czech Republic, and Slovakia. In 2008 the exports made by Dacia
Renault grew by 34.6% to 172,886 units, and over 60% of deliveries were for the Western
Europe markets.
In H1 2009, the export made by Dacia went up by more than 60%, to almost $1.85 billion, a
value that accounts for 10% of the overall domestic market exports. Dacia exports were mainly
supported by car park renewal programs in Western Europe, which will come to an end in the
last quarter of this year.
In 2004, when the Logan model was launched, Dacia exports accounted for less than 1% of
Romania’s total exports.
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Exports made by Automobile Dacia in H1 2009 registered an increase of 60%, reaching up to
130,668 cars. In Western Europe, Dacia sales grew by almost 100%, to 95,997 units, as Dacia
is one of the brands boasting the strongest sales within Germany’s old car scrap program.
In H1 2009, Dacia sold worldwide 153,795 cars assembled both at the Mioveni and Morocco,
Casablanca, facility. The cars were subsequently sold in Europe, Russia, but also on other
markets such as Brazil and Argentina.
Had Dacia not boosted production from 1,085 units per day at the beginning of this year to the
daily production 1,340 cars currently, the country’s economic rate of decline would have
reached 9 percent at the end of this year, compared with 6.2 percent at present.
On the Romanian market, Dacia sold 23,158 cars in H1, approximately 15% of the Mioveni
production, down almost 50% compared with the similar period of last year, as the domestic car
market posted a 55 percent decline in H1 2009.
Imports decreased by 53.1% during the period January thru May 2009, compared to the same
period of 2008, amounting to 46,948 vehicles. In May alone, imports decreased by 48.8%
compared to the same month of 2008, amounting to 10,487 units. In 2008, imports fell by 6.6%
compared to 2007, to 232,555 vehicles
Romanian car market segmentation by brands in 2008 : Dacia came first with a total of
84,709 units sold (26.1% market share), followed by Volkswagen with 23.887 units sold (7.4%
market share), Skoda with 23,189 units (7.2% market share), Ford with 22,139 units sold (6.8%
market share) and Renault with 22,073 units (6.8% market share).
In a classification of the most important growths, the following brands hit records: Mazda
(190%), Cadillac (171%), KIA (156%), Suzuki (98%), Maserati (86%), Jaguar (84%), Subaru
(61%), Lancia (53%), Mini (37%) and Smart (30%).
The most dramatic annual drops throughout the 12 months were registered by Geely (-90%),
Daewoo (-58%), SsangYong (-51%), Great Wall (-49%), Chrysler (-43%), Alfa Romeo (-35%),
Renault (-34%), Citroen (-28%), Chevrolet (-27%) si Peugeot (-27%).
Key Suppliers
Manufacturing of Motor Vehicles
At present, only one company is producing passenger cars and commercial vehicles in
Romania: S.C. Automobile Dacia Group Renault S.A. in Pitesti.
It is ten years now since Renault Group’s takeover of Dacia plant in Mioveni. The French group
invested 1.5 billion euros in Dacia which has a capacity of 350,000 cars per year
The company currently has 18,000 employees, but the other 130,000 jobs depend on Dacia’s
operation. Approximately 80% of cars built at the Dacia are exported to 60 markets on four
continents. In addition, sub-assemblies produced at Dacia provide the necessary components
for plants in Morocco, Russia, Iran, India, Brazil, Colombia, and South Africa. By the end of May
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2009, were sold over 1,450,000 vehicles Sandero and Logan, of which over 950,000 under the
Dacia brand.
S.C. Daewoo Automobile Romania S.A., based in Craiova, was privatized in October 2007,
being bought by Ford Motor Company. Ford Europe will manufacture three vehicle models in
Craiova as of 2011. Besides the light utility vehicle Transit Connect and the future small class
model, the American carmaker will also make a medium class utility vehicle, most likely the next
generation Ford Transit, which will target the European market.
Transit Connect utility vehicles, currently made at the Kocaeli plant in Turkey, will start to be
exported to the United States next summer. According to sources on the market, the small class
car will be the first generation of B-Max that will replace the current Fusion.
Ford Romania will start the first stage of the Transit Connect project in its Craiova
manufacturing facility in September 2009. Stage one involves car assembly. Stage two, which
includes manufacturing for Transit Connect, will start in 2010.
The current situation provides excellent opportunities for suppliers of all tiers. Ford is partly
looking for a new supplier network. In a press release given by the Romanian Agency of Foreign
Investments, it is stated that from a total of $2.92 billion that are to be invested in 2009 in
Romania, almost $1.46 billion are projects from FORD suppliers. The project will contribute to
the development of the region’s automotive industry, enhance its competitiveness and will
support the development of the local cluster of suppliers. It will contribute to stabilize the
employment of the current 3,900 employees and create substantial new direct employment at
the site.
Approximately 40 of auto parts manufacturers, suppliers of Ford Company came to Romania in
September 2008 to visit the plant in Craiova. Faurecia (France), Continental AG (Germany),
Trelleborg Automotive (Sweden), Robert Bosch Gmbh (Germany), Amtek Group (India),
Johnson Controls, Kirchhoff Automotive, Gestamp Automation, International Automotive
Components, Systems Technology , Easy Europe, Linamar Corporation, CIE Cartings, JVM
Carting Limited, Daum Castellon, Acument Global Technology Europe, Magna International,
Inc. Autoliv. Bos Automotive, Montoupet, Emcon Technologies, Nobel Automotive, Benteler
were among the visiting companies.
Based on the initial plans of these two companies (Ford stated that it will produce more than
300,000 units per year at the Craiova factory), local industry is expected to reach 650,000 units
in 2010.
Manufacturing of parts & accessories
In addition to the two major vehicle manufacturers currently producing in Romania, there are
more than 500 companies: manufacturers of auto parts, sub-assemblies and components, most
of them SMEs, which have evolved as a result of the restructuring process, the privatization with
external companies, or through the relocation from abroad of certain manufacturing units, as
well as through greenfield investments, with projects that sum up to $2.92 billion.
Most Romanian suppliers are not 100% owned by local entrepreneurs; rather they consist of
joint ventures, in which the Romanians provided the production halls, utilities and engineering
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services, whereas the major brands from the international car manufacturing industry brought in
their know-how, technology and raw materials. These JVs are producing for both the domestic
market (mostly for Renault-Dacia) and the overseas markets.
The Romanian distribution system for spare parts is currently expanding. Larger international
players like ATR, AD and Temot are already present in the market. In addition there is still a large
number of smaller players. Currently, consolidation is no issue – the market is large enough for all
players to grow. Eventually, consolidation will start.
Auto parts manufacturing companies are acting mainly in the area of metallic, plastic and rubber
components, in addition to electrical and electronic components production, as follows:
Electric and electronic systems
Lisa Draxlmaier (Germany), Delphi Packard (U.S.), Kromberg & Schubert (Germany),
Alcatel (France), Lear Corporation (U.S.), Alcoa Fujikura Inc. (U.S.-Japan), Leoni Wiring
Systems (Germany), Sumimoto Electric Wiring Systems, Yazaki Corporation (Japan), Valeo
(France), Siemens Automotive (Germany), Ruwel AG (Germany); Schneider&Oechsler
International (Germany); Marquardt Schaltsysteme (Germany)
Heating /Air conditioning Systems
Continental (Germany), Valeo (France), Calsonic Kansei (Japan)
Exhaust systems
Borla (U.S.), (U.S.), Cortubi, Honeywell Garett (U.S.)
Plastic and rubber components
Baumeister&Ouslet (Germany), Solvay-Inergy (Belgium), Phoenix AG (Germany), Dow
Automotives, AD Plastik (Croatia), Simoldes Plasticos (Portugal), BOS Automative;
Hutchinson (France)
Gear boxes
Daimler Chrysler (Germany), DCI Wallbridge (U.S.), Star Transmission (Germany)
Chairs
Johnson Controls (U.S.), Faurecia (France)
Tires, Steel Cables
Continental (Germany), Michelin (France), Pirelli (Italy)
Steering Wheels
Takata Corporation (Japan), Eybl International AG (Germany), Momo (Italy)
Wheels
Magneto Wheels (Italy)
Bearings
Koyo Seiko (Japan), SNR Roulments (France), Ina Schaffer (Germany)
Springs
Thyssen Krupp (Germany)
Chassis
Auto Chassis International (France), Dura Automotive System (U.S.)
Casting parts
Lomond Continental Castings (Scotland)
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Among other investments in the automotive industry (components area), were:
Delphi Diesel Systems Romania, a subsidiary of the U.S. Company, Delphi opened its €100
million greenfield facility located in Miroslava (near Iasi, north-eastern Romania) on July 2009.
Production is scheduled to start in September 2009. The Delphi facility will produce injection
components for diesel engines, pumps and injectors for Common Rail injection systems for
global customers. Delphi might produce in Iasi the fuel-injection system for the new Renault
Twingo. Delphi has secured several customers and new projects across the world, especially for
control systems for EURO5-compatible diesel engines. The Iasi facility is designed to supply car
facilities in Central and Eastern Europe.
Delphi holds two more units in western Romania at Sanicolaul Mare (Timis County) and Ineu
(Arad County) where 9,000 workers are employed. The two plants produce wiring systems for
the automotive industry targeting clients in Western Europe.
The Austrian company HTI High Tech Industries, (listed on the Vienna Stock Exchange) set up
a subsidiary in Romania, High Tech Industries S.R.L., based in Brasov that will produce plastic
and rubber items for the automotive markets.
The Scottish Company, Lomond Continental Castings, invested $2.2 million in a production
facility for casting parts in Brasov, and plans more than $10 million in investments in the future.
In fact, this company moved its production activity from Glasgow to Brasov. They will produce
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aluminum cast parts for Jaguar, BMW, Daff and Hzster companies. According to the Lomond
Continental Castings’ representatives, the rationale for choosing the location in Brasov is
because the city is two hours away from Bucharest, has an experienced labor in terms of
casting aluminum parts, and by 2010 an airport will be operational in Brasov. Furthermore, it
takes only five days to transport the parts produced in Brasov to the UK.
Trelleborg Automotive (Sweden) opened a new production line for components for chassis and
engine blocks for cars in Dej (Cluj County). The increased production capacity from this state-ofthe-art plant serves the needs of Trelleborg's existing customers Audi, Dacia, Ford, Peugeot
and Renault by providing local supply to their Romanian and other Eastern European plants.
In 2008 the company sold components with a turnover worth $29 million, double in comparison
to the previous year.
Renault will invest $157 million to develop new specialized locations for engineering, designing
and automotive testing operations in Romania. Reunited under the name of Renault Tehnologie
Roumanie (RTR), it will have three locations: Bucharest (offices), Mioveni (plant and assembling
chassis), and Titu (testing center).
AutoTest Company (Israel) intends to open about 5 more work stations in Romania, in addition
to the three laboratories in Bucharest, Brasov and Sibiu. Also, they intend to expand through
franchising throughout the country. The average investment in a testing center amounts to
$300,000.
The rubber processing, Hutchinson (France), part of the Total Group opened a new plant in
Brasov after an initial investment of $11 million. The factory will supply rubber components for
S.C. Automobile Dacia-Renault S.A., Ford, BMW, Peugeot, ACI, Mahle, Filtrauto, Behr and
Bosch. They foresee the doubling of the investment by 2009.
The Japanese company, Calsonic Kansei, made an investment worth $175.2 million in 2008 in
Ploiesti, ranking fourth in the top investments on the auto market. The plant produces air
conditioning units for carmakers like Nissan, Renault, Audi, BMW and Honda.
Another strong player on the auto market, ranking third in the top investments of 2008, the
Italian company Pirelli invested $277.4 million for the construction of a tire production factory in
Slatina.
The local auto-parts makers have been strongly affected by the auto industry troubles, leaving
many companies faced with the prospect of cutting back on their production and making
workforce cuts, in order to survive in the first part of 2009. These companies are both direct
parts suppliers of Dacia – Renault (which temporarily stopped its production for a month and a
half in December 2008 and January 2009) and of various other European brands of carmakers.
Besides Dacia, a series of auto suppliers announced their program of cutting jobs. Here are
some examples: Draexlmaier (electrical systems), Divertex (car wiring for Renault), Automotive
Complete Systems (supplier of Ford), Ana Imep (equipment), Yazaki (wiring), INA Schaeffler.
Rolem SA Codlea (supplier of Mercedes), Eybl Automotive (seat covers and autotextiles).
On the other side, a major player like Takata-Petri (supplier of components and systems for the
automotive industry) decided to shut down three of its plants in Poland and relocate the
production in Romania, where the German company already has two plants, one in Arad county
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and the other one in Sibiu with a total of approx. 4,500 employers. In addition to Takata-Petri,
Sumitomo Electric Wiring Systems will also transfer its business from Poland to its three
manufacturing facilities in Romania,
Despite the current economic slowdown, best prospects for the near future include:
- manufacturing automotive spare parts and components;
- manufacturing or distribution of car accessories: GPS devices, anti radar systems, car
security premium systems, HI-FI car audio devices (electronic and information device parts);
- establishing workshops (even in a franchise system) especially designed for the
installation of car accessories
Prospective Buyers
An overview of Romanian foreign trade in the automotive area shows increased exports of auto
parts. Exports include besides tires, cabling, steering wheels, safety systems, car seats and
upholstery, connectors, tire cords, and generally any part that involves a significant amount of
labor, or anything that is unprofitable to manufacture in other countries.
Market Entry
The Romanian automotive market is currently well structured and covered by a number of
companies connected in one way or another to major players on the European market. The
decision to enter this market depends on the sub-sector in which the company is interested.
a) With respect to motor vehicle distribution, market entry is quite difficult if attempted
without a local partner having already a well established distribution network. Interested
parties should take into consideration that the majority of the authorized dealers have
built modern facilities, in full compliance with the most advanced standards of
international manufacturers.
b) Regarding the parts and accessories market, there is still enough room for new entries,
in both manufacturing and distribution sub-sectors. There are opportunities to invest in
(buy and develop) an existing company for manufacturing businesses or to buy land (or
concession) and establish new facilities (greenfield or brown field projects).
SWOT analysis of Romania’s automotive industry
Strengths
- It is an open market economy.
- Romania enjoys a highly competitive car market and low levels of economic and political
risk.
- It has experienced annual increases in car sales.
- It offers good opportunities for greenfield investments.
- It possesses good quality domestic raw materials.
- Romania has a qualified labor force, at costs that are lower than in most of other EU
countries (The average auto industry labor cost in Germany was $66 an hour in 2006
compared with $9.4 in Poland and $5 in Romania.)
- It is close to the main European manufacturing centers.
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-
In terms of geo-economic prospects, the automotive sector has high post crisis
development potential
Weaknesses:
- It can be difficult (in particular, financially) to access programs for implementation and
certification according to international standards.
- Romania has a poor infrastructure, particularly the road infrastructure.
- For foreign aftermarket parts manufacturers the market is highly attractive. The main
challenge, however, is the countrywide access to service stations (the main sales
channel for parts to car owners), to spare part shops and eventually to the end
customers.
Opportunities
- Products manufactured in Romania can be sold in other EU states without import tariffs
or other obstacles.
- There are reduced duty rates for industrial products (vehicles code 8703: 10%; parts and
accessories (code 8708: 3% for industrial assembly and 4.5% other purposes).
- The number of companies with ISO 9001, ISO 14000, ISO 16949 Certification (or, at
least they have implemented these standards) is continuously increasing.
- We see a strong impetus in the export market.
- The existing vehicle park is old – 12 years compared with less than 8 years in the EU.
Threats
- There is a lack of available highly qualified personnel, such as specialized technicians
for service workshops, engineers, etc.
- Longer than expected decline of the purchasing power of potential buyers of vehicles
Market Issues
Legal Framework
DISTRIBUTION OF MOTOR VEHICLES (EU Block Exemption Regulation) - Starting October
2005, the Commission Regulation (EC) No 1400/2002 of July 31, 2002 (on the application of
Article 81(3) of the Treaty to categories of vertical agreements and concerted practices in the
motor vehicle sector) was implemented in the Romanian legislation. According to this
legislation, importers established new dealer contracts, meant to open up competition in the
new car sector by giving dealers more freedom and customers greater choice.
ELV - End of Life Vehicle (Directive 2000/53/EC) - The ELV Directive was transposed into
national law in 2004, and came into force beginning January 2005 (primary legislation). Some
provisions and secondary legislation entered into force in 2006. According to these, producers
and importers had to establish (October 2006) a specialized collecting network throughout the
country. It set out the following targets for reuse, recycling and recovery of end-of-life vehicles:
- 75% of reuse and recovery and 80% of reuse and recycling by January 1, 2007 ("2007
targets"),
- 95% of reuse and recovery and 85% of reuse and recycling by January 1, 2015 ("2015
targets")
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Taxation
According to the Romanian legislation entered into force in February 2009, cars pertaining to
the EURO 4 category and with a cylinder capacity of less or equal to 2.000 cmc are exempt
from pollution tax in Romania if registered for the first time anywhere within the EU during the
period from 15 December 2008 to 31 December 2009.
The European Commission sent Romania a letter of formal notice regarding the registration tax
for cars. The Commission considers that the provisions of the Romanian legislation, according
to which the application of the pollution tax for certain motor vehicles is suspended while being
increased for certain used cars coming from other Member States, might discriminate against
used cars brought from other Member States and protect the domestic new car industry. The
Commission supports policy measures aimed at favoring less polluting cars. However, the
Commission, as Guardian of the Treaty, must ensure that they are compatible with the EU law.
In this respect, the way in which the Romanian legislation is constructed seems to have a
protective effect for domestic industry of new cars.
Romanian Auto Industry 2009 Perspective
1) Car production and sales segment:
a. Its evolution significantly depends on the pollution tax to be adopted
b. The Scrapping bonus is another determining factor meant to boost the new car sales.
This stimulus program continues to be on the 2009 agenda of the Ministry of
Environment. The package foresees granting 3,000 RON (891,172 USD) as of
February 3rd, 2009 to people who choose to junk their current car, provided that it is
older than 10 years, and buy a new car. This program is intended to replace up to
60,000 cars (approx. 22% of the market)
2) Auto parts segment.
Given the degree of integration of the cars produced at Dacia Renault (80%) and Ford
(60%) this segment is expected to closely follow the trend of the vehicles market.
Conclusions. The Romanian auto market sagged in H1 2009 as a result of the world financial
crisis, mainly due to restrictions on access to the credits and following the invasion of used cars,
which from July through December 2008 benefited from a lesser new car tax compared to the
one in the first part of the year (the used cars market increased by 143% in 2008). The
Romanian Government cannot afford to let the auto industry fail with the accompanying loss of
jobs throughout the economy. To prevent further decline and stimulate local automotive
industry, the Romanian Government is expected to grant support to car manufacturers on a
medium to long term, provided that automotive players develop new concepts to bring addedvalue to their products.
These measures should be aimed to:
a) Encourage the acquisition of less polluting vehicles (through pollution tax) and
b) Encourage old cars writing off and their replacement with new ones, less polluting
c) Temporarily defer taxes, as a possible solution to immediate cash-flow problems.
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d) Grant direct help, like in the case of Ford. The company applied for a 600 Million Euro
loan from the European Investment Bank. The Romanian government has agreed to
issue a sovereign guarantee for 80% of the amount that Ford will invest in Romania.
e) Grant local tax rebates available under the New State Aid Scheme The Romanian
Competition Council has cleared a regional aid scheme proposed by the Ministry of
Interior, entailing local tax rebates – building and land tax exemptions for the companies
that would apply under the scheme. The total aid available under the scheme is 87.5
million lei (some $37 million) from 2008 to 2010. It is up to the local authorities to decide
the terms under which the companies could qualify (i.e. investment size, number of jobs
created). The aid can go as high as 50% of eligible costs (in Bucharest and Ilfov as high
as 40%).
Trade Events
Regional motor shows. See the following website for more details: www.ccir.ro
Resources & Contacts
National Institute of Statistics
16, Libertatii Ave., Sector 5, Bucharest
Phone/Fax: +4.021.318.18.69
Email: romstat@insse.ro
National Forecast Commission
2-4, Cristian Popisteanu Str., Sector 1, Bucharest
Phone: +4.031.100.23.40
Fax: +4.031.104.08.09
Email: prognoza@cnp.ro
Romanian Agency for Foreign Investment
22, Primaverii Blvd., Bucharest
Tel: +4.021.233.91.03
Fax: +4.021.233.91.04
Email: aris@arisinvest.ro
National Trade Register Office
74, Unirii Ave., Sector 3, Building J3B, Bucharest
Phone: +4.021.316.08.17
Fax: +4.021.316.08.03
Email: onrc@onrc.ro
Car Makers and Importers Association (APIA)
Str. Berveni Nr. 53, Sector 1
Phone: 4021-211-5287/4031-405-8335/40
Email: apia@apia.ro
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For More Information:
The U.S. Commercial Service in Bucharest, Romania can be contacted via e-mail at:
Corina.Gheorghisor@mail.doc.gov Phone: +4.021.200.33.97; Fax: +4.021.316.06.90; or visit
our website: www.buyusa.gov/ro
The U.S. Commercial Service — Your Global Business Partner
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RomaniaAuto0709 - National Association of Manufacturers

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