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Sustainability 2018, 10(2), 510; https://doi.org/10.3390/su10020510

Measuring the Impact of Economic Crisis to the Greek Vehicle Market

Department of Mechanical Engineering Bakola and Salviera, University of Western Macedonia, 50100 Kozani, Greece
Received: 15 December 2017 / Revised: 12 February 2018 / Accepted: 12 February 2018 / Published: 14 February 2018
(This article belongs to the Special Issue Sustainability Indicators for Renewable Energy Transition)
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Abstract

The fallout of the global economic crisis has impacted Greece severely as the austerity measures that were implemented since 2009 have had a devastating effect on poverty and the level of living. The financial agreement of the Greek government with the International Monetary Fund (IMF) gave rise to a deep recession phase in the Greek market that started in early 2008. The automobile industry is among the sectors that have been severely affected by the economic crisis. Given that the demand for cars fell sharply and that the Greek car market is facing serious problems, mapping and understanding them can provide useful input to the Greek vehicle market. Regression analysis is being employed, and the interrelations of different variables, such as net disposable income, unemployment rate, fuel prices, the Greek crisis, loans directed to the vehicle market, as well as the inflation rate for the period of 2000–2016, are investigated. Analyzing the factors affecting car sales can provide policy-makers with knowledge in order to take legislative and economic measures, so as to boost sales of new environmental friendly vehicles not only in Greece, but in all EU states. View Full-Text
Keywords: economic crisis; Greece; car sales; austerity economic crisis; Greece; car sales; austerity
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Nanaki, E.A. Measuring the Impact of Economic Crisis to the Greek Vehicle Market. Sustainability 2018, 10, 510.

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