After the setback in March, sales on the Italian car market are growing again. Last month, 135,353 cars were registered by the Italian motor authority, with a variation of +7.52% compared to April 2023, when 125,884 were registered (in March 162,083 cars were registered, -3.71%).
The progressive total for the first four months of the year thus rises to 586,665 cars, up 6.1% compared to the 552,941 in the period January-April 2023.
According to the Stud Promotor Centre, the market remains weak also due to the wait for the incentives “announced too long” and which are expected by the end of May. “In March the market recorded its first decline – explains the CSP – after nineteen months of growth. A significant recovery was expected in April. The increase of 7.52% cannot be considered significant because in April there were two extra days worked which, in terms of registrations, are worth around 10% of the monthly result. The slowdown in the March market cannot therefore be considered overcome”. Furthermore, Promotor reports that “compared to the pre-crisis situation, i.e. 2019, the data for the first four months still records a drop of 17.7%”. President Gian Primo Quagliano is clear: “The prospects of a recovery in a reasonable time from the strong delay in the Italian car market do not appear positive”.
Also in April, according to official data, there were 446,631 property transfers compared to 370,132 transfers recorded in the same month of 2023, with an increase of 20.67%. The global volume of monthly sales, equal to 581,984, involved 23.26% new cars and 76.74% used cars.
Looking at the performance of the brands in April, the highest increases in registrations were those of Honda (+123% to 698 units), Mitsubishi (+1,181% to 551 units) and Land Rover (+86.55% to 957 units) . Among the largest declines in percentage terms, however, were those of Lynk & Co (-89.82% to 81 units), Subaru (-61.21% to 83 units) and Tesla Motors (-53.38% to 345 units). In relation to market shares, behind the Fiat brand (-1.03% to 15,270 units registered, with a share of 11.24%), we find Toyota which recorded an increase in registrations of 63.79% 10,371 units, with a market share rising to 7.66%, overtaking Volkswagen, which has a 7.6% share.
Stellantis, controlled by Exor which also controls the publisher of Repubblica, registered 42,570 cars in Italy in April, 0.5% less than the same month in 2023 with the market share decreasing from 34% to 31.4 %. In the first four months the group’s registrations were 192.99, up 3.2% on the same period last year. The market share is equal to 32.8% compared to the previous 33.8%.
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Auto, the Italian market recovers in April: sales growing by 7.5%
Courvoisier: In the hands of Campari the famous cognac
– 2024-05-02 15:59:18
Italian group Campari has finalized the acquisition of cognac Courvoisier for 1.08 billion euros, in the most significant transaction in its history.
An additional amount of 112 million euros will be payable in 2029 depending on the achievement of the targets set for the 2028 financial year, the Campari group also said in a statement issued.
The Campari group thus confirmed the terms of an agreement with the American spirits group Beam Suntory to acquire 100% of the capital of Beam Holding France, which was the owner of the premium cognac brand Courvoisier.
Campari buys Courvoisier for $1.2 billion
The Italian group is already in the French market, having acquired Grand Marnier liqueur in 2016 following a takeover bid that valued the business at 684 million euros.
Campari had also acquired Bisquit Dubouché cognac in 2017, Trois Rivières rum and La Mauny rum in 2019, as well as Lallier champagne in 2020 and the Picon brand of aromatic liqueurs in 2022.
The House of Courvoisier, founded in 1828 by Félix Courvoisier in Jarnac in the Charades region, made its mark in history as the official supplier to Emperor Napoleon III.
Courvoisier “supplied the royal courts of Europe and was a favorite drink of the Belle Epoque, as it had been chosen to celebrate the opening of the Eiffel Tower and the Moulin Rouge,” commented the Campari group in December, when it announced that it was starting exclusive negotiations with Beam Suntory.
This transaction is expected to help increase the production and bottling capabilities of the Campari group in France and allow it to strengthen its presence in the United States.
The Campari company was founded in 1860 and from 1995 began acquisitions, becoming a multinational with a presence in more than 190 markets, with a portfolio that now includes more than fifty brands.
Sources: AFP, APE-MPE
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Courvoisier: In the hands of Campari the famous cognac – 2024-05-02 15:59:18
Bonamas from OSE to “immortals” instead of remote control – €2 million for security drones, without investing in real infrastructure
– 2024-05-02 16:08:50
They have paid at least €2 million for security drones, without investing in real security infrastructure
OSE prefers to give money to “unknowns” with photo assignments and competitions for the safety of the network and facilities, than to arrange for the installation of remote control and other safety systems, the absence of which was one of the main reasons for the train accident of Tempo. Another blatant case, similar to the scandals in the Hellenic Development Bank or ELTA, with a “party” of wasting taxpayers’ money by a public company.
A simple visit to Diaugia is enough for someone to see that the OSE spends thousands of euros per month to guard its premises with drones. The remarkable thing is that the companies to which he assigns the projects look like two drops of water. They even have a common email address.
These are two companies that appear to be taking the projects after an invitation from the OSE to provide guarding services for railway facilities and open lines using drones. The amounts amount to many thousands of euros per month, while the total amount that the companies have received from 2022 onwards amounts to at least 2 million euros.
“Twin” companies
Inter Star Security Ltd. and Starguard Ltd. are the ones invited by the OSE to submit a bid for the security services by flying means. According to the standard practice of the organization’s management, only companies receive the relevant invitation. However, there are cases where a call for interest was sent to a third company – possibly in the public eye, as they were not awarded the project. It is easy to conclude that the two “twin” companies are not the only ones engaged in this activity within the Greek and European territory.
The people behind the two companies are of great interest. Nikolaos Tsantsarakis appears as administrator of Inter Star, while Apostolos Trehandinis of Starguard. Apparently, the managers of the two companies are not connected, however with a second look it becomes clear that from the foundation of Starguard until 2016, its manager was N. Tsantsarakis. When he left the management of the company, he sold his shares, which were bought by the Cypriot company Ebelburg Holdings Limited, which is now a partner and member of Starguard.
From 2016 onwards, Rep. Trehandinis took over as administrator. In the following years, he himself buys company shares so that today he is one of the company’s main shareholders together with the Cypriot Ebelburg Holdings Limited.
However, we do not know who the partners of the said Cypriot company are as Cypriot law hides the partners well (a partner can hold the company shares as a trustee for another person). It is an institution of English law that is used by all the Irish funds that bought the “red” loans with the guarantee of the Greek government and nobody knows the real partners.
The second company, Inter Star, also has the same person as manager and partner, namely N. Tsantsarakis. However, in a document of Inter Star’s balance sheet for 2013, Ap. Trehandinis, who is an administrator and partner of Starguard, signs as financial director.
In addition, the two companies still share a lot in common, which converges to the fact that these are companies of common interest, or at least the same people behind them. Therefore, apart from the same persons who are in the management but also owning company shares, in official documents in Diaugia they appear with the same e-mail address and the same fax number, with telephone numbers that differ by only one digit, which are, however, registered in the same company but also in the same building complex, using an artificially different address. In fact, Inter Star appears in a document posted on Diaugia with an email address that contains the name “Trechantinis”.
Another interesting element in the case is that the common denominator of the two companies named Nikolaos Tsantsarakis appears in the great Pandora Papers scandal with companies in the British Virgin Islands. But the strange coincidences do not end here. The company Ironton Services Limited, which appears in the Pandora Papers and is linked to Tsantsarakis, has the same address (Agapinoros 5, Apollo Heights Aphrodite Hills, Flat/Office A11 Kouklia Paphos 8509 Cyprus) as the aforementioned Cypriot company Ebelburg Holdings Limited, the which acquired the corporate shares of Starguard from N. Tsantsarakis.
Photo contests
The criteria defined by each competition are always very specific, such as the existence of a mechanical technologist with ten years of experience in security services or the existence of three electronics technologists. These conditions create obstacles to the free competition under which securities companies operate. Even when an invitation is addressed to some other company besides the two mentioned above, the assignment is always given to one of the two. It is therefore questionable how only these two companies out of those active are able to undertake the guarding of the OSE facilities.
A repeated coincidence ceases to be a coincidence, especially when we are talking about photo contests in order to transfer money to certain companies. It is at least suspicious that an invitation is made to only two companies, which, as can be seen from the above, are managed by the same persons.
What is happening in OSE is rather clear. After all, it is not the first public company where services are provided to “unknowns”, which of course may hide non-transparent transactions and agreements.
Read also: Mamoulakis: The position of the interim president of the OSE epitomizes the conflict of interests
Tempi crime: Haris Mamoulakis complains of a conflict of interest in the management of the OSE
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