BERTRAND MALLET - Inchcape

Romania Automotive OverviewLarge country with highpopulationLow car penetrationImprovement of roadinfrastructureOne of the oldest car parcs inEurope21.4m people, 240,000sq km201 passenger cars per 1000 inhabitants (vs EU27average of 478)With the support of EU structural funds, the roadnetwork is undergoing significant improvementsincluding the construction of motorways42% of car parc more than 10 years old17% of car parc more than 20 years oldMarket still far from its peakof 2008High quality dealer networkTIV reached 352k in 2007In 2010, TIV fell to 116kToyota Romania network ranked:#2 in new car buyer survey#1 in aftersales surveyFor both structural and cyclical reasons, the Romanian automotive market should gradually recover over the next 5 yearsSource: Global Insight/IMF/JD Power