2010 Zagreb auto show cancelled due to stagnant market

• Source: Xinhua
• [08:46 February 10 2010]
• Comments

The 2010 Zagreb Auto Show was cancelled as the car market in the west Balkan nation remained gloomy two years after the outbreak of the global financial crisis, news reaching here from Croatia said Monday.

The annual event, held in Zagreb and Serbia's capital of Belgrade in alternate years, was originally scheduled for March 18 to 28 this year.

According to Croatia's daily newspaper Jutarnji List, the decision to call off the show came after Volkswagen, the most popular car brand in Croatia, announced several days ago to sit out.

Car sales in Croatia plummeted nearly two-thirds over the past two years -- from 7,263 in January 2008, to 2,601 in January this year. Car dealers found it hard to attract buyers even with heavy discounts.

Despite not having a domestic car industry, Croatia is said to have suffered a more serious decline in new car sales than some other European countries. Things are not expected to improve in the short run, at least not until potential buyers begin to see signs of an upturn in the economy, local media said.

The last Zagreb Auto Show, held in 2008, attracted over 50 automobile brands from 35 countries with some 350 new models on display.