Czech Automotive Co AAA Auto Mulls Selling 49% Of Romanian Unit

"The Management Board reviewed the business and financial results of the Romanian division and was informed about the implementation of the recovery plan," the company announced Monday.

The company’s board will make a decision in June on the re-launch plan and the future strategy for Romania.

The printed media repeatedly wrote in the last three months about AAA Auto’s intention to withdraw operation from the Romanian and Polish markets.

In June, the company’s spokesperson Jaroslav Smutny told MEDIAFAX that AAA Auto does not plan to withdraw from the two countries but will envisage this opportunity on higher losses of its two units.

AAA Auto reported a 34% decrease in its first-semester sales in Romania, to 840 units, compared with the same period a year before. The company forecasted sales of 3,000 units in 2008.

The Romanian unit accounted for 2% of the group’s sales in the first semester of 2008.