DOCSLIB.ORG

Asset Finance Pricing Review

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Asset Finance Pricing Review Asset Finance Pricing Review Sponsored by Europe: expanding opportunities Austria, Poland, Hungary, Romania ▼ Car subscription – getting the price right ▼ ExpertEye on the coming RV storm IntroductionIntroduction Fair shares? Welcome to the latest edition of our Asset Finance Pricing Review, Car subscription services have attracted lots of attention – but relatively few Welcome to the sixth edition of Asset Finance Pricing Review, published in users. Hendrick Roosna, CEO of Fairown Finance, analyses how changes publishedcollaboration in associationwith Asset Finance with Asset International Finance and International Professor Colin Tourick. to finance models could give this market the push it needs to change customer attitudes TheAs in one all previous constant issues, in business we again and put political forward lifea host in 2019of articles has frombeen industry change, as leadershipinsiders that elections, serve to illuminate campaigns the morearound challenging climate changeaspects ofand asset Parliamentary finance Subscription has become a hot topic and direction for innovation for many. procedurepricing. The and, purpose of course, is to bring Brexit you negotiationsvaluable insights, have knowledge all combined and examples. to provide That is probably why plenty of car brands and OEMs have launched dailyIn any challenges company, there to how are thingsdifferent are stakeholders usually done. involved in pricing policy and various subscription programs: Volvo has Care; Land Rover has Carpe; Inexpecting the automotive sales and sector, finance we’ve to see been eye-to-eye living onwith every change issue foris the some stuff time. of fantasy. Mercedes offers Flexperience, and the list goes on. All of these programs This is especially true for businesses that operate internationally and have to take are designed with a similar end in mind, namely to discover how many Oneinto accountof the biggest the cultural, is the political, growing financial interest and in regulatorysharing cars, differences rather within than those owningmarkets. a Invehicle Car Wars outright. – reconciling For millennials, divergent views who onare manufacturer used to options auto financesuch customers would be willing to increase their monthly car budget in aspricing Airbnb (pages and 3-5),Netflix, Bryan paying Marcus, for regional an asset director based of VWFSon usage Latin rather America, than exchange for additional services and flexibility. Programs offer an app, ownershipCanada and makes Northern a lot Europe, of sense. offers But an interestingwhile it’s anperspective attractive on idea resolving for pricing related services, and the ability to switch between the manufacturer’s other consumers,disputes – and it’s one harder that doesn’tto see howinvolve auto leather finance gloves funders and a boxing and others ring! can available models. adapt to this new approach. In an article on page 3, our guest columnist There are many ‘levers to profit’ in every asset finance business but the one that While it’s an attractive idea, the concept looks like a hard sell because it’s Hendrickwill have theRoosna greatest takes impact a detailed on the bottom look at line how is changing car subscription your pricing services policy. difficult to imagine a large customer segment being ready to increase their canThis be is thepriced advice so ofas Professor to make Colinmoney, Tourick, as well management as attracting consultant headlines. and editor of monthly car budget. On the contrary, the average customer is seeking ways Asset Finance Pricing Review, in The pricing action plan for profit (pages 6 and 7). Roosna's fintech start-up, Fairown, is based in Estonia, just one of the to reduce costs, taking the pragmatic “I’ll-choose-a-car-subscription-when- emergingThere’s only new one auto topic finance (other than markets pricing in policy) central that and can easternclaim joint Europe. ownership Our of it’s-cheaper” view. If a car brand could design a subscription service at a leadthe most-difficult-aspect-to-get-right-in-asset-finance article (starting on page 6), shines a light on developmentstitle and that is setting in four price point that competed with loan and lease offerings, it would probably countries:Residual Values Austria, (RVs). Hungary, But it’s notPoland just a and matter Romania. for vehicle With leasing Poland and beginningdaily rental go viral. This attractive offer could change customer purchasing habits by tocompanies, challenge states the Big Dean Five Bowkett, who have technical traditionally director andheld chief the dominanteditor at market converting conventional loan and lease purchases to a new type of car share,EurotaxGlass’s. now is a Ingood his article time toSetting assess Residual how trendsValues (pagesare developing 8-10), he examinesin a the subscription. pitfalls and best practices and offers a unique perspective on how it matters for sampleOEMs too. of countries in the region. With new car sales on the slide in mature It’s a challenge, but providing more value for a lower price point should be markets, OEMs and lenders are looking further afield to bolster revenues, possible if we innovate with a leasing product rather more than ever before. particularlyPage 11 presents as these the resultscountries of our start last to Pricing invest Survey, in infrastructure which posed and questions boasts aaround mobile, how young, to pitch workforce pricing at for a level whom that having delivers a the car most is fast new becoming business anda Traditional car financing products such as loans and leasing, designed necessity.highest margins. As ever, the results surprised us. They may surprise you too or decades ago, follow an underlying logic that continues today. An issued perhaps confirm your prior thinking. Either way, get in touch and give us your credit should preferably be lower than the value of the car. The down Asperspective. ever, we also have ExpertEye’s report on residual forecasts and market payment is used to regulate the LTV (loan to value) metric to an acceptable summaries for the main western European market, which faced some Take part in our next survey level. Fees and interest rates used by the lessor for pricing include challenges in the past year and is by no means out of the wood yet. You operational and credit risks and bottom-line profit. Balloon payment size canWe’re read very more grateful details to everyone on page who 19. takes part in our surveys (you can do so at the end of the payment schedule is designed to be lower than the car’s Doanonymously enjoy and if your you like)comments because and they opinions always provide are always us with welcome. valuable expected secondary market value. In the case of an operational lease, the understanding and ideas. This time we’re asking: What is the primary consideration dealership is taking the responsibility of repurchasing the vehicle from the when your asset finance business sets its prices/issues a quote? You can take part here: http://bit.ly/bynxpr5. Gary Jefferies financier on a preliminary agreed price point. Sales and Marketing Director, Bynx By combining these variables, we have a price point that most of us are It’s always interesting to read how suppliers work successfully with leasing used to paying for having a financed car. However, one aspect to keep in companies and Kwik Fit GB is no exception. In an article, Kwik Fit GB fast fits deliver service excellence and financial savings (pages 12 and 13) Peter Lambert, mind is that the customer might consider purchasing insurance and paying fleet director, talks us through how the fast fits concept is delivering tangible results separately for maintenance and repairs. for leasing companies. Car subscription would skyrocket if there were a low price point available, We end this Pricing Review with the latest figures on changes in residual value and if you could have it even if you wanted to exclude services from the forecasts, SMR costs and lease rental rates across Europe (to January 2014) from monthly cost. benchmarking and research specialist Experteye. And don’t forget to share your feedback with us and tell us what you’d like to see in future Pricing Reviews. Gary Jefferies 2 Sales and Marketing Director, Bynx 3 From the risk perspective, the business model would look a little different because the levels of standard metrics for that type of offering would change. The creditor would need to finance a loan with a value that was higher than the collateral secondary market value. Which means that, if the customer defaulted, the expected losses could potentially be higher. Therefore, to fit into the risk models, these offerings should be aimed at customers less likely to default. Bringing the new variable “profit from the future transaction” into the traditional leasing formula would make it possible to define a price point that would change the way customers think about subscription. Thinking this way would also significantly increase customer lifetime value for the brand that is making the offer. Hendrick Roosna is the founder of Estonia-based Fairown Finance, and is a specialist in improving financial services with technology and data science. He describes the company as “a product subscription platform for electronics and other products customer needs and should replace in a planned manner. The secret sauce is a novel approach to residual value management, upfront discount from future purchases and deep integration with vendors. We establish partnerships with financing companies and brands, enabling customers to benefit from subscription services internationally.” Bynx ad 11.18 AFI_Layout 1 28/11/2018 14:09 Page 1 So, what if we designed car subscription using the same components but in a different way? Just as the world’s most valuable brand, Apple, has done! They have created a predictable product renewal cycle. And, through the iPhone upgrade plan, they also motivate users to renew their device in a planned manner.
Load more

Recommended publications
  • Razvoj Automobilske Industrije U Istočnoj Europi
    Razvoj automobilske industrije u Istočnoj Europi Fuštin, Ivan Undergraduate thesis / Završni rad 2020 Degree Grantor / Ustanova koja je dodijelila akademski / stručni stupanj: University of Zagreb, Faculty of Science / Sveučilište u Zagrebu, Prirodoslovno-matematički fakultet Permanent link / Trajna poveznica: https://urn.nsk.hr/urn:nbn:hr:217:444560 Rights / Prava: In copyright Download date / Datum preuzimanja: 2021-09-30 Repository / Repozitorij: Repository of Faculty of Science - University of Zagreb Sveučilište u Zagrebu Prirodoslovno-matematički fakultet Geografski odsjek Ivan Fuštin Razvoj automobilske industrije u Istočnoj Europi Prvostupnički rad Mentor: prof. dr. sc. Zoran Stiperski Ocjena: _______________________ Potpis: _______________________ Zagreb, 2020. godina. TEMELJNA DOKUMENTACIJSKA KARTICA Sveučilište u Zagrebu Prvostupnički rad Prirodoslovno-matematički fakultet Geografski odsjek Razvoj automobilske industrije u Istočnoj Europi Ivan Fuštin Izvadak: U ovom radu cilj je analizirati razvoj i propast automobilske industrije te njezinu revitalizaciju. Utvrditi uzroke propasti automobilskih kompanija u promatranom prostoru te navesti faktore relokacije iste. Također, usporediti čimbenike jače zastupljenosti automobilske industrije u državama u promatranom prostoru. 22 stranica, 1 grafičkih priloga, 1 tablica, 3 bibliografskih referenci; izvornik na hrvatskom jeziku Ključne riječi: automobilska industrija, socijalizam, propast, revitalizacija Voditelj: prof. dr. sc. Zoran Stiperski Tema prihvaćena: 13. 2. 2020. Datum obrane:
    [Show full text]
  • Acta 115.Indd
    Acta Poloniae Historica 115, 2017 PL ISSN 0001–6829 Mariusz Jastrząb and Joanna Wawrzyniak Department of Social Sciences, Kozminski University Joanna Wawrzyniak Institute of Sociology, University of Warsaw ON TWO MODERNITIES OF THE POLISH AUTOMOTIVE INDUSTRY: THE CASE OF FABRYKA SAMOCHODÓW OSOBOWYCH AND ITS STAFF (1948–2011)* Abstract Focusing on the history of the Polish main car factory, the FSO, the paper examines two modernisation waves in the country’s automotive industry: the socialist Government’s purchase of a license from the Italian Fiat in the 1960s and the acquisition of the factory by the Daewoo Corporation in the 1990s. The history of the FSO as an enterprise shows, above all, the pitfalls of dependent development. It has, however, resulted in the training of a class of specialists and engineers for whom the implementation of foreign technologies and management cultures presented opportunities for self-advancement, redefi nitions of their identity, along with reconsiderations of the value and meaning of work. Keywords: passenger cars, automotive industry, Fabryka Samochodów Osobowych (FSO), Fiat, Daewoo, Poland, socialism, capitalism, transformation 1 * Research work fi nanced within the programme of the Ministry of Science and Higher Education (Poland), under the name ‘The National Programme for the Development of Humanities’, between 2012–18. The authors would like to thank two anonymous readers for their helpful comments and Hanna Gospodarczyk for an initial report on the FSO and for delving into the archives of the Ministry of Treasury. Our gratitude goes also to interviewees participating in the project ‘From a Socialist Factory to an International Corporation: Archive Collection of Narrative Biographical Interviews’ for sharing with us their recollections, as well as to the students of the Institute of Sociology of the University of Warsaw for conducting these interviews (see also n.
    [Show full text]
  • Innovation in the European Value Chain: the Case of the Romanian Automotive Industry***
    CES Working Papers – Volume VII, Issue 1 INNOVATION IN THE EUROPEAN VALUE CHAIN: THE CASE OF THE ROMANIAN AUTOMOTIVE INDUSTRY*** Alina Petronela NEGREA* Valentin COJANU** Abstract: Entrepreneurs’ and regional stakeholder’s capacity to turn knowledge, skills and competencies into sustainable competitive advantage is crucial to a region' economic performance. The article attempts to reveal their synergy by gathering evidence in the particular context of the Romanian automotive industry. Based on primary data collected through structured interviews and experiential visits, the research is organized around three investigative themes: (1) entrepreneurs’ approach to and perception on innovation, (2) factors affecting innovation, and (3) networking and knowledge diffusion in the regional productive environment. The findings emphasize the convergent opinion of the regional stakeholders on the vital role innovation plays at the current stage of the industry and the key role entrepreneurs have in stimulating innovation in the regional context. A series of three factors underlay the innovative performance at regional and industry level, namely the presence of an innovation friendly business environment, entrepreneurs’ personality, as well as the external competitive environment. Keywords: automotive, entrepreneurship, technology, innovation, Romania JEL Classification: L62, O03 Introduction Entrepreneurship and innovation are staples of any business schools’ curricula. The pair concept has been studied for sufficiently long time to suggest that policy makers are left with the only option of considering their circular causation on their economic agenda. However, the researchers have yet to investigate the conditions under which the reciprocal influence is most likely to eventuate in a virtuous circle, or, alternatively, to escape a vicious one. Attempts to place the two concepts in a territorial context – for example, at which level, national or regional, is it more appropriate to spur innovation and encourage entrepreneurship? – add more issues to the debate.
    [Show full text]
  • BOPI Nr. 2/2003
    !"#$#%&'()'*+,+'-).+/%'#.0).1##'2#'34/$# 5%$%/)2+#'6'/!37.#, 5%&)+#.'!"#$#,& ()' -/!-/#)+,+)'#.(%*+/#,&4 *)$1#%.),'34/$# 8888888888 9 9::; -<=>?@AB'>A'CABA'CDE 28 februarie'9::; BULETIN OFICIAL DE PROPRIETATE INDUSTRIALĂ PUBLICAŢIE OFICIALĂ EDITATĂ DE OFICIUL DE STAT PENTRU INVENŢII ŞI MĂRCI, ÎN 12 VOLUME ANUAL, ÎN FUNCŢIE DE NUMĂRUL CERERILOR DE ÎNREGISTRARE A MĂRCILOR, A CERTIFICATELOR DE ÎNREGISTRARE ŞI DE REÎNNOIRE A MĂRCILOR ACORDATE. Costul estimativ al abonamentului anual este de 5.800. 000 lei, exclusiv cheltuielile de difuzare. Exemplarele individuale au preţul de 550.000 lei/ număr, estimativ în limita stocurilor disponibile, exclusiv cheltuielile de difuzare. Plata se face anticipat în contul Oficiului de Stat pentru Invenţii şi Mărci nr.50.03.4266081 TREZORERIA MUNICIPIULUI BUCUREŞTI ______________________________________________ Colegiu de redacţie: Ştefan Cocoş Mimi Bularda Coperta: Cristina-Maria Bararu Tipărit la: Tipografia O.S.I.M. sub comanda nr. 84/24.02.2003 BULETIN OFICIAL DE PROPRIETATE INDUSTRIALA Nr.2 2003 CUPRINS GENERAL Directia-Redactia-Administratia l. CAPITOL MĂRCI: OFICIUL DE STAT PENTRU 1. Tabel cu mărcile înregistrate: -în ordinea nr. de depozit..........................................11 INVENTII SI MARCI -în ordinea nr.de marcă.............................................37 Str. Ion Ghica nr.5, sect.3 -în ordinea alfabetică numai pentru mărcile verbale şi telefon:3151965; 3151964; combinate...................................................................41 3145964; 3145965; 3145966; -in ordinea alfabetica
    [Show full text]
  • Raportul Administratorilor 2020
    ACTIVE CONEXE S.A. RAPORTUL ADMINISTRATORILOR - conform situatiilor financiare aferente anului 2020- 1 CUPRINS: I. BAZA RAPORTULUI .................................................................................................................3 II. DATE DE IDENTIFICARE ............................................................................................................3 III. ANALIZA ACTIVITATII ..............................................................................................................3 3.1. Date de infiintare .................................................................................................................... 3 3.2. Participari la capitalul social al altor societati: ....................................................................... 4 3.3. Conducerea societatii ............................................................................................................. 4 3.4. Activitatea de baza ................................................................................................................. 7 3.5. Activitatea de achizitii .......................................................................................................... 11 3.6. Activitatea juridica – litigii .................................................................................................... 13 IV. ACTIVITATEA ECONOMICO – FINANCIARA LA DATA DE 31.12.2020 ......................................... 13 4.1 Informatii generale ..............................................................................................................
    [Show full text]
  • Studiul Spos4
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Țurlea, Geomina; Cojanu, Valentin; Alexoaei, Alina; Neculau, Georgiana; Petrariu, Ioan-Radu Research Report Avantajele competitive ale României pe piaţa internă a UE Strategy and Policy Studies (SPOS), No. 2013,4 Provided in Cooperation with: European Institute of Romania, Bucharest Suggested Citation: Țurlea, Geomina; Cojanu, Valentin; Alexoaei, Alina; Neculau, Georgiana; Petrariu, Ioan-Radu (2014) : Avantajele competitive ale României pe piaţa internă a UE, Strategy and Policy Studies (SPOS), No. 2013,4, ISBN 978-606-8202-41-9, European Institute of Romania, Bucharest This Version is available at: http://hdl.handle.net/10419/141818 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu Avantajele competitive ale României pe piaţa internă a UE STUDII DE STRATEGIE ŞI POLITICI 2013 - nr.
    [Show full text]
  • Central Europe Automotive Report
    AUSTRIA BULGARIA CZECH REPUBLIC HUNGARY CENTRAL POLAND ROMANIA SLOVAK REPUBLIC SLOVENIA EUROPE COVERING THE AUTOMOTIVE CENTRAL EUROPEAN AUTOMOTIVE INDUSTRY REPORT February 1997 Volume II, Issue 2 ISSN 1088-1123 ™ ture (1995-1997) amounts Romania to USD 500,000,000. As of November 1996, the com- PROFILE pany had 4,800 employees. ROMANIA Commercial Auto Leasing Daewoo & Dacia Battle for Market Daewoo plans to invest Hits Romania an additional USD 550 mil- Share; Suppliers Modernizing lion (USD 77 million in cash and USD 473 million AutoLease is Romania’s first dedicated auto in equipment) in its leasing company. The company will provide Market Highlights Romanian factory. Daewoo hopes to pro- 2-year cross-border finance leases to interna- duce 300,000 cars annually by the year 2000. tional and Romanian companies doing business In early 1997, Romanian truck manufactur- “We are not going to make any compromise in Romania. er Roman S.A. will put into service a new on the quality of the cars produced in flexible crankshaft manufacturing line. The Craiova,” stresses Mr. Dong-Kyu Park, the Mike Morris, line will use machines imported from the company’s Chairman. (See CEAR Vol. 1, Founder and companies Boeringer, Hegenscheidt, Naxos- Issue 3 for a Profile interview of Mr. Park). CEO of Union, and Adcole. Roman also plans to Daewoo also intends to start assembly (SKD) AutoLease, is a begin production of 110-115 hp truck engines of 1-ton light trucks at ARO’s facilities in Harvard MBA that meet Euro-2 standards. The engines are Campulung Muscel. and financier currently being tested at the A.V.L.
    [Show full text]
  • Dolj County Dolj Originally Meant
    Dolj County Dolj originally meant "lower Jiu", as opposed to Gorj (upper Jiu) is a county of Romania on the border with Bulgaria, in Oltenia, with the capital city at Craiova. In 2011, it had a population of 660,544 and a population density of 89/km2 (230/sq mi). • Romanians – over 96% • Romani – 3% • Others almost 1%. Geography This county has a total area of 7,414 km2 (2,863 sq mi). The entire area is a plain with the Danube on the south forming a wide valley crossed by the Jiu River in the middle. Other small rivers flow through the county, each one forming a small valley. There are some lakes across the county and many ponds and channels in the Danube valley. 6% of the county's area is a desert. Neighbours • Olt County to the east. • Mehedinți County to the west. • Gorj County and Vâlcea County to the north. • Bulgaria – Vidin Province to the southwest, Montana and Vratsa provinces to the south. Economy Agriculture is the county's main industry. The county has a land that is ideal for growing cereals, vegetables and wines. Other industries are mainly located in the city of Craiova, the largest city in southwestern Romania. The county's main industries: • Automotive industry – Ford has a factory. • Heavy electrical and transport equipment – Electroputere Craiova is the largest factory plant in Romania. • Aeronautics ; ITC • Chemicals processing ; Foods and beverages • Textiles ; Mechanical parts and components There are two small ports on the shore of the Danube river – Bechet and Calafat. Tourism Major tourist attractions: The city of Craiova; The city of Calafat; Fishing on the Danube; The city of Băilești.
    [Show full text]
  • Prezentare SMAT 2014 – Mr. Gunter HOHL
    Günter H. Hohl 23-25 October 2014 Austrian Society of Automotive Engineers Craiova, ROMANIA Bună dimineața Doamnelor și Domnilor Good Morning Ladies and Gentlemen! “Development of collaboration between Romanian and automotive engineers from other European countries” Günter Hohl Past Vice President of FISITA Past President of EAEC Vice President of the Austrian Society of Automotive Engineers Günter H. Hohl 23-25 October 2014 Austrian Society of Automotive Engineers Craiova, ROMANIA Famous Sons of Craiova Michael the Brave „Mihai Viteazu“ (1558 - 1601) was the Prince of Wallachia (1593–1601), of Transylvania (1599–1600), and of Moldavia (1600). He united the three principalities under a single rule for a short period of time. Petrache Poenaru ( 1799–1875) studied in Paris, Vienna and, England, was a mathematician, physicist, engineer, inventor, teacher organizer of the educational system, politician, agronomist, and zoologist, founder of The Philharmonic Society, the Botanical Gardens and the National Museum of Antiquities in Bucharest. In 1827, he invented the world's first fountain pen. Corneliu Baba (1906 – 1997) was a Romanian Painter, primarily a portraitist, but also known as a genre painter and an illustrator of books. Günter H. Hohl 23-25 October 2014 Austrian Society of Automotive Engineers Craiova, ROMANIA Development of the Automobile Günter H. Hohl 23-25 October 2014 Austrian Society of Automotive Engineers Craiova, ROMANIA Early European Inventors Nicolas-Joseph Gustave Cugnot Trouvé (1725 – 1804) (1839 - 1902) William E. First steam vehicle First electric car Ayrton Richard Invention 1769 Invention 1881 (1847 – 1908) Trevithick Second electric car (1771-1833) Invention 1882 First commercial use of a steam car Invention 1801 Günter H.
    [Show full text]
  • RECREATE Transport SME Competitiveness Report
    RECREATE REinforce Competitiveness of REgionAl Transport SMEs PGI05275 Transport SME Competitiveness Report Report elaborated by: R. Jabanda Coventry University Enterprises Ltd UK G. D’Angelo Campania Region IT C. Cotrone Campania Region IT A. Kyriakou Development Agency of South Aegean Region - READ S.A. EL I. Tamiakis Development Agency of South Aegean Region - READ S.A. EL I. Tinfavičienė Lithuanian Innovation Centre LT G. Junevičius Lithuanian Innovation Centre LT E. Nagulevičius Lithuanian Innovation Centre LT P. Bacevičius Lithuanian Innovation Centre LT M. Bogheanu Regional Development Agency South-West Oltenia RO S. Cosmulescu Regional Development Agency South-West Oltenia RO M. Lungu Regional Development Agency South-West Oltenia RO M. Alecu Regional Development Agency South-West Oltenia RO Revision History Version Date Modified by Comments Draft submitted to LP. 1.1 02/07/2019 S. Cosmulescu First consolidated draft. Full redraft complete, sent to 1.2 28/08/2019 R. Jabanda PP5 with email comments Full redraft complete, sent to 1.3 19/11/2019 S. Cosmulescu Lead Partner 1.4 29/01/2010 CUE review Final version 2 | P a g e Table of Contents List of Figures / Tables .......................................................................................................... 4 Abbreviations ........................................................................................................................ 8 Executive Summary .............................................................................................................
    [Show full text]
  • Olygopolistic Market for Cars in Romania
    The USV Annals Volume 12, of Economics and Issue 2(16), Public Administration 2012 OLYGOPOLISTIC MARKET FOR CARS IN ROMANIA Lecturer Ph.D. Cristina Florentina BÂLDAN University of Pitesti, Romania [email protected] Abstract: The article presents the oligopolistic market for cars in our country. In order to fulfil the objectives of this paper, we will analyze the content of automobile market in Romania by considering the inflows (production and imports) and outflows (sales and export) in the period 2007-2011, the structure of the market and the influence of the Program of stimulating new acquisitions in the national auto park (Rabla) on the automobile market. Regarding the sales situation for local cars in the studied period, we can notice a big decrease starting with the auto market crash in 2009 caused by the economic crisis, Comparing with the first year from the analysed period, we can notice constant decreases year to year, thus in 2008 we can notice a decrease of 26.1%, about 81.945 comparing with 110.902 cars in 2007. The descending trend is even more abrupt starting with 2009, when, despite the efforts for stimulating the auto market with the “Rabla” programme, we have a decrease of 65% comparing with 2007 with a level of only 38.736 cars. In 2010 the trend continued, but with a decrease level smaller than in 2009, but not sufficient to bring an increase is sales, their level being 34.400 units, 4.336 less than in 2009. Key words: oligopolistic market, inflow flux, outflow flux, competition, automobile.
    [Show full text]
  • CCM 710/18.01.2008- Ramura Constructii De Masini
    CONTRACT MUNCĂ Nr. 710 din 18 ianuarie 2008 Contract colectiv de muncă unic la nivelul ramurii construcţii de maşini pe anii 2008 - 2010, înregistrat la Ministerul Muncii, Familiei şi Egalităţii de Şanse sub nr. 710/02/18.01.2008 EMITENT: MINISTERUL MUNCII, FAMILIEI ŞI EGALITĂŢII DE ŞANSE PUBLICAT ÎN: MONITORUL OFICIAL, PARTEA A V-A, NR. 2 din 1 februarie 2008 În temeiul Legii nr. 130/1996, republicată, se încheie prezentul contract colectiv de muncă unic, aplicabil în unităţi cu activitate preponderentă în producţia de construcţii metalice, produse din metal, maşini, echipamente şi mijloace de transport rutiere şi alte mijloace de transport, indiferent de natura capitalului şi de forma de organizare, între federaţiile sindicale şi federaţiile patronale. Salariaţii/angajaţii sunt reprezentaţi, în conformitate cu art. 41/42 din Legea nr. 54/2003 şi cu art. 17 alin. 1 lit. b) din Legea nr. 130/1996, republicată, prin: 1. Federaţia Sindicatelor din Construcţii de Maşini - F.S.C.M. (C.N.S.L.R. - FRĂŢIA); 2. Federaţia Naţională Sindicală SOLIDARITATEA METAL (C.N.S. CARTEL ALFA); 3. Federaţia Sindicală a Lucrătorilor din Industrie - METAL (BNS); 4. Federaţia ÎNFRĂŢIREA a Sindicatelor din Ramura Metal; 5. Federaţia Metal Henri Coandă. Angajatorii, indiferent de natura capitalului şi de forma de organizare, sunt reprezentaţi prin Federaţia Patronală din Industria Construcţiilor de Maşini, conform Legii nr. 356/2001, Legii nr. 130/1996, art. 15 alin. (1) lit. b), şi hotărârii Tribunalului Municipiului Bucureşti, Secţia a IV-a Civilă, nr. 5 FED/8.02.2006, dosar nr. 8/REP/2005. PREAMBUL Prezentul contract colectiv de muncă are ca scop promovarea şi aplicarea unor raporturi de muncă echitabile, de natură să permită desfăşurarea unei activităţi în condiţii de profitabilitate, echilibru financiar şi capacitate de plată pe baza bugetelor de venituri şi cheltuieli şi a programelor de activitate aprobate potrivit prevederilor legale şi, pe această bază, să asigure o protecţie socială pentru salariaţi, precum şi evitarea apariţiei unor conflicte colective de muncă.
    [Show full text]