Luxury car sales double after five months

Sales of cars worth more than 100,000 euros boomed in the first five months of this year, despite the difficult economic situation, with the car market dropping further by over 30%. While in January-May 2009 23 luxury cars were registered, more than 40 luxury cars were registered during the same period of 2010, according to the statistical data provided by the Driver License and Vehicle Registration Department (DRPCIV). Sales of luxury cars, of which almost half were Ferrari models worth above 200,000 euros, doubled amid the slight relaxation of lending norms in the first months of this year, according to market players. "Clients' consumption appetite has not risen this year. We can say they've got used to the current economic downturn at most. Funding was frozen in the first months of last year, no loans or leasing funding was provided for a luxury car. Now, we still can't say lending is going smoothly, but it's no longer frozen," said Adrian Pascu, brand manager Porsche, Bentley and Lamborghini with Porsche Romania. Wenzel Weber, general manager of Automobile Bavaria, expects the economic rebound to be first announced on the upper segment of the market. Even so, market players forecast weaker results for the second half of this year.