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A debt of 7 billion euro threatens to destroy the automotive market in Greece

27 November 2011 / 19:11:15  GRReporter
4170 reads

In any case, analysts say that the first "purge" in the car market will take place by the end of 2011 throughout the authorized networks and only the healthy companies or those with the smallest debt will survive. Furthermore, due to contraction of the market it will not be possible for many companies with the same trade mark to work in the territory of an area due to the decrease not only in sales, but also in the after-sales service.

Automobile registrations 2005 - 2010

2005 269.733

2006 267.700

2007 279.794

2008 267.242

2009 220.548

2010 145.000

2011 94.000 *

* According to estimates

Government revenue from registration fees and road tolls

Year    Tolls *             Registration Fees *

2007    818 million       1.52 billion

2008    1 billion            1.38 billion

2009    1 billion            984 million

2010    1.5 billion         249 million

2011    1.2 billion         170 million

2012    1.2 billion         165 million **

* Amounts are in EUR

** Based on 2012 budget

Tags: automotive market authorized networks importers bankruptcies
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