Greece March 2012 car market fell 43%. Who is without sin cast the first stone

2.500 years later, the small and beautiful country of Greece is back in the center of the world. In ancient times the reason was the born of such advanced civilization able to influence our live 2,5 millennium later. Today the great attention around Greece is generated by the harsh financial and economic crisis.

Greece economy grew during the last twenty years driven by two sectors: tourism, accounting for 15% of GDP and the public sector, accounting for 40%. The country joined European Community in 1982 and the euro currency in 2001. In the last years, Greece was the European country which received major support by EU development plans. The 2004 Olympic Games organization boosted GDP as Public Deficit, but the 2008 global financial crisis and the lost of international credibility due to incorrect national budget reporting, started a negative circuit, where austerity programs are increasing deficit, unemployment (17% in 2011), national debts (in 2011 at 165% of GDP the world’s 4th ). Actually the country is supported by international Institution under the agreement of a strong economic restructuring that’s creating heavy social turbulences. The average pro capita GDP declined from $ 30.400 in 2009 to $ 27.600 in 2011 and continue to fall.

Greece economy is even more under pressure than expected. Past week the Chief of Greece Central Bank announced that the fall of GDP will be deeper than the previously expected 4,5% Year on year, most likely in 2012 Greece’s GDP will fall by 5%. After these times nothing will be the same in Greece.

This is the fifth consecutive year of recession for Greece. For this glorious country “the cradle of modern culture” and for his proud citizens it’s hard to imagine any bright future as more and more fiscal austerity is planned together with growing unemployment rate.

Considering the period January-March the industry drop is at 32.0% vs. 2011: only 17,179 passenger cars registered: the whole Greek industry weights as any medium European town.

In this environment it’s no surprise that the car industry falls, as well as GDP, for the fifth consecutive year; and situations is not likely to change after the elections that will bring the new government on May 6.

Those who will win won’t have many choices but putting in place IMF recommendations: further cut public expenses and increase of tax incomes.

Focus2move forecasts for 2012 Greece industry is for a volume around 58.000 units or -40% down on 2011.

Let’s also remember that the dynamics of the Greek industry are not affected (better say not backed up) by local production; the totality of passenger cars are imported.

How far the times of the 2004 Olympic games when Greek industry almost topped its record at 289.691! Almost five times current industry forecast. Let’s note, for sake of preciseness, that the historical record year was anyway year 2000 with 290.222 units.

Passenger vehicles

The market is completely focused on small and affordable vehicles. In First Quarter 2012 Toyota and Ford lost respectively the first and second position overtaken by both Opel and VW.

In the table below, the Top 20 Manufacturers sales rank:

YTD

Brand

Mar ’12

Mar ’11

% 2012/11

Mar ’12-YTD

Mar ’11-YTD

% D12/11

Rank

TOTAL

4.901

8.531

 

-42,6%

17.179

25.267

-32,0%

1

OPEL

683

847

(3)

-19,4%

2.509

2.775

(2)

-9,6%

2

VOLKSWAGEN

474

690

(4)

-31,3%

1.910

2.416

(3)

-20,9%

3

TOYOTA

568

995

(1)

-42,9%

1.637

3.532

(1)

-53,7%

4

FORD

339

894

(2)

-62,1%

971

1.871

(4)

-48,1%

5

FIAT

190

520

(6)

-63,5%

917

1.527

(5)

-39,9%

6

HYUNDAI

246

332

(8)

-25,9%

888

1.203

(8)

-26,2%

7

NISSAN

245

544

(5)

-55,0%

877

1.305

(7)

-32,8%

8

SKODA

173

509

(7)

-66,0%

834

1.360

(6)

-38,7%

9

PEUGEOT

242

216

(13)

12,0%

743

753

(12)

-1,3%

10

SUZUKI

236

158

(18)

49,4%

712

756

(11)

-5,8%

11

KIA MOTORS

99

134

(20)

-26,1%

536

489

(15)

9,6%

12

AUDI

176

226

(12)

-22,1%

515

555

(13)

-7,2%

13

CITROEN

221

328

(9)

-32,6%

494

1.027

(9)

-51,9%

14

VOLVO

158

132

(21)

19,7%

459

361

(21)

27,1%

15

SEAT

100

303

(10)

-67,0%

346

776

(10)

-55,4%

16

RENAULT

101

88

(23)

14,8%

342

270

(23)

26,7%

17

BMW

71

243

(11)

-70,8%

324

529

(14)

-38,8%

18

CHEVROLET

99

179

(14)

-44,7%

313

469

(17)

-33,3%

19

ALFA ROMEO

69

161

(15)

-57,1%

273

477

(16)

-42,8%

20

MERCEDES

75

159

(17)

-52,8%

253

351

(22)

-27,9%

Looking at the models performance, it can be seen that 8 models in the top 10 belong to segments And B. Opel Astra and VW Golf are anyway improving their rank; the best performer in growt YoY are Suzuky Swift moving from 17th to 8th position and Qashqai from 24th to 11th position.

In the table below, the Top 20 Models ranking:

YTD

rank

Model

Jan-Mar

2012 sales

Share

2011

Rank

1

Opel Corsa

1417

8,2%

1

2

Toyota Yaris

951

5,5%

2

3

Opel Astra

774

4,5%

5

4

VW Polo

722

4,2%

3

5

Ford Fiesta

662

3,9%

4

6

Fiat Panda

425

2,5%

7

7

VW Golf

383

2,2%

10

8

Suzuki Swift

368

2,1%

17

9

Hyundai i20

367

2,1%

14

10

Hyundai i10

363

2,1%

11

11

Nissan Qashqai

353

2,1%

24

12

Peugeot 107

329

1,9%

21

13

Skoda Octavia

325

1,9%

12

14

Nissan Micra

309

1,8%

8

15

Skoda Fabia

304

1,8%

16

16

VW Tiguan

288

1,7%

28

17

Toyota Auris

256

1,5%

6

18

Citroen C3

241

1,4%

22

19

Seat Ibiza

233

1,4%

13

20

Fiat 500

224

1,3%

23

 

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