The hardest hit retail sectors, automotive and electric & IT retail, will lose more than two billion euros of their turnover compared with 2008, given that the downward trend of the sales will continue until the end of the year, according to ZF estimates.
As the automotive market posted a 50% decline in the first five months of the year, and the most optimistic estimates do not go beyond 190,000 units, the top ten players on the automotive market are bracing for an over 1.5 billion-euro decline of their business to 4 billion euros.
The top ten players on the automotive market reached more than 5.6 billion euros in cumulated business last year, 3 billion euros of which generated by two of them: Automobile Dacia, 2.072 billion euros and Porsche Romania, the biggest importer, whose business exceeded one billion euros.
Similar declines are expected on the electrical & IT market, after the performance in January through May, and sales are expected to go down by 500 million euros compared with the almost 1.3 billion euros in 2008.
"The market should reach 800 million euros, but it is very hard to estimate, because the value depends a lot on consumer loans. I think the decline will be of less than 40% for the entire year," explained Jiri Rizek, general manager of Flamingo retailer.
Considering the decline in the sales of the top ten companies in the automotive market and of the electrical & IT retail sector, the amount evaporated from the turnover stands at more than 2 billion euros. Sales in the automotive sector, of the showroom networks, have also gone down and are expected to reach only about one billion euros.
The only two companies that have been less influenced by the effects of the crisis on the local market are Automobile Dacia and Ford Romania.
The hardest hit retail sectors, automotive and electric & IT retail, will lose mo
