Cordula Schnuer joined Tom for Delano's Top of The Week this morning to discuss the Luxembourg auto-festival.
The Luxembourg auto festival, which has been running since 1964, moves into it's 2nd week today, offering residents of the country the opportunity to get a favorable deal on buying a new car.
Traditionally, dealers offer special deals on cars, banks offer favourable loans and it’s the occasion to make a bargain. But it’s also come to be seen as an indicator of Luxembourg’s economy.
Dealerships make around a third of their annual sales during the Autofestival and if they perform poorly it’s used as a sign of a lack of consumer confidence and prudent spending, which could have bigger ramifications.
Over the last three months, car registrations rose 7% compared to the year before. For the festival itself, it’s too soon to tell as the second week has only just kicked off. But some of the challenges are well known, for example, supply chain issues. Customer can face wait times of six months or even up to a year until they get their new car. That has led to a burgeoning second-hand market, as Luxembourg’s fleet is generally quite young.
Another trend of the the past years is the rise in e-vehicles that are accounting for a growing share of cars bought during the festival.
Cordula's event picks for this week included:
The future of Europe roundtable: www.facebook.com/events/304048822…ype%22%3Anull%7D
The Cliffs of Lone album release party:
delano.lu/event/2023-02-04-the…-of-lone-release-par
Wine-cheese-enjoy:
delano.lu/event/2023-02-04-wine-cheese-enjoy-2023
Her personal pick was a book - 'Why Women Are Poorer Than Men' by Annabelle Williams