Monday, December 28, 2009

The FINANCIAL - Auto Dealers Claim Industry Suffering as Banks Limit Auto Loans

The FINANCIAL -- Auto dealers say the Georgian auto business is far from emerging from the global recession. Industry representatives do not expect a return to the pre war situation earlier than 2011.

Sales have dropped by 60% on average. Statistic given to The FINANCIAL are not optimistic. Dealers claim that banks are issuing a very limited number of loans which is hampering auto sales.

Mercedes-Benz Georgia imported only 60 cars in 2009. The most popular brand was the Mercedes C class and the company managed to sell 24 passenger cars. The total number of cars sold in 2009 was 60. - News - The FINANCAIL  read more

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