Effects of the Crisis on the Automobile Industry

8/11/2019 Effects of the Crisis on the Automobile Industry

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Greeks have long had a love affair with cars, as

written in NY times, buying more of them per capita

than many of their European neighbors. But thesedays, the country has become a vast graveyard of

abandoned automobiles, one more measure of hard

times.


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In 2008, 187.000new

vehicles were registered

including 12 Ferraris and

300 Porsche.

Now the new cars

registered are less than137.000 including no

Ferraris at all and only half

a dozen of Porsches.

Its been 5 years approximately from the beginning of the

crisis and the number of the new vehicles registered has

declined dramatically reduced by 80% in comparison to 2008.


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Before the economic crisis about 280.000cars were

sold in Greece every year. Last year, that numberdropped to 59.000and people were interested only in

cheaper models. 90%of the cars sold were less than

$33.000.


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Ferraristands up to the crisis

The crisis does

not seem toaffect Ferrari.

3.000 Ferraris

workers received3 additional

salaries each, as

a bonusin favour

of the companys

record breaking

results in sales.


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Bicycle: An alternative way out of the crisis

The economic crisis makes

people not only search for

alternative ways in order to

reduce their expenses but

also ways to be relieved fromthe stress of their everyday

lives.

People leave their cars at the garage and turn to analternative mean of transport which as the crisis

deepens, gets more and more popular. Thats

nothing else but the bicycle.


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Bikesales increase by

up to 10% every year.

The use of bicycles has

increase up to 30%and

continues to grow.

10.000 Athensitizens

bike at least once a week.

180new bicycle shops

have opened up in

Greece recently.


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Use of the bicycle in the subway

The first 10 yearssubways operation, the

entrance of bicycles was

forbidden. Since the

November 1stof 2011,

bicycles are allowed in

the subway.

This was achieved by an active group of

bicyclists with the organization of

demonstrations and letters of complaint to the

ministry of transportation.


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Public Transport and financial crisis

Despiteof the economic

meltdownthere has notbeen an

increasein the use of public

transport neither in Greece, nor

in any other cities.

In London, the use of subway has decreaseddown by 6%

In Paris, there has been a 0,8% decreasein the use of RATP

In Milan, the useof public transport has droppedwith 1,2%

In Madridand Barcelonathe use decreased by 10%


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Effects of the Crisis on the Automobile Industry

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