Car bank's fail to get on the right track in 2005 as public opt for used cars

The combined value of credit loans granted by domestic banks amounted to zł.1.67 billion, while in 2004 it was zł.2.1 billion. All the seven car banks operating in Poland recorded a decrease in the value of credits. The one that lost least was Toyota Bank (5.7%). The largest decrease was recorded by Renault Credit Polska (52.8%). The reason why the results were so poor is that the public have become less interested in buying new cars and have turned to used cars imported from other EU countries. On the whole, the sales of new cars in Poland dropped by 26% last year, which was the worst result over the last 13 years. The car banks' management boards, as well as car dealers, think that the government should introduce regulations banning the import of very old cars and those in bad condition. Meanwhile, the State Tribunal has just issued a verdict saying that from May 1 the price of issuing a car card for imported cars will be lowered by over zł.400 (Rzeczpospolita, pp. B7, A1) A.F.