Romanian Car Producer Dacia Will Handle The Crisis Better – GM

Romanian automobile producer Dacia will handle the crisis better than others, because customer preferences in rich countries are changing and people are looking for cars which have adapted to the new economic conditions, Dacia general manager Francois Fourmont said.

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The official said the Renault group, which owns Dacia, will reduce investment in Romania, by cutting expenses related to trips abroad and by freezing non-strategic projects.

According to data made public by Fourmont in a conference, Renault’s planned investments on the local market amounted to EUR138 million by mid-March.

One of the most important investments is a new mold factory, which will be called Matrite Dacia and will require EUR26 million in financing. It will produce molds for car bodies (doors, hood) and will service both Dacia and Nissan. EUR4.5 million required for this project will come from state aid requested by Renault from Romanian authorities.

The measures taken by Dacia to alleviate the effects of the crisis include introducing automatic transmission on cars destined for the Persian Gulf, launching liquefied petroleum gas cars in Europe and introducing engines which work on bio-ethanol in Nordic countries.

Automobile Dacia’s turnover grew by 10.1% last year, to EUR2.07 billion, but profits halved, down to EUR60.28 billion.

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