Moldavian vehicles market falls due to the global pandemic affecting sales. Indeed, Full Year 2020 sales have been 5.072, down 25.9% compared to 2019. Toyota gains share and menaces Dacia’s leadership.
Economic Environment
Recent figures point to recovering activity hitting a roadblock in Q3, after output plunged in Q2 as the Covid-19 fallout pummeled domestic demand and exports.
Although the pace of contraction in industrial production eased from April’s nadir through July, it grew more severe in August as manufacturing activity, particularly in food processing, shrank markedly. Similarly, July’s rebound in retail sales was short-lived as they slumped back again in August, which, coupled with even slower bank lending in Q3 than in Q2, hints at demand struggling to gain traction.
Lastly, the key agricultural sector, which accounts for about a tenth of output and a third of employment, languished in Q3 as crop production declined even more heavily than in Q2.
Market Trend
The Moldavian vehicle market has been severely affected in 2020 by the global COVID-19 pandemic, which impacted sales significantly.
The market in recent years fluctuated between the 4 and 5 thousand annual sales due to continuous changes in import rules and uncertain economy, ending 2016 with 4.195 sales. However, during 2017 the environment has improved and new vehicles demand increased 31.4% with sales up at 5.512. In 2018 the market kept the momentum, gaining 13.3% from the previous year, with sales at 6.245. In 2019 sales have been 6.843, reporting a 9.6% increase in sales compared to 2018 and maintaining the positive trend for the third year in a row.
Full-Year sales for 2020 have been 5.072, reporting a 25.9% decrease compared to 2019.
Brand-wise, this year the leader Dacia (-36.9%) lost 2.9% market share, followed by Toyota (-10.7%) which gained 2.6% market share. Skoda (-26.7%) was in the third position and lost 0.1% market share.
The most sold model in the country is the Toyota Rav4 with 347 sales, holding 6.8% market share.
