The traditional narrow streets of the Italian towns and the difficulties to find parking areas continue to be the first driver for people to prefer small cars. In the last decade, the increased average price and the reduced purchasing power have further forced a large part of the population to choose a low-cost car, with the success of brands like Dacia, Kia, Hyundai.

After over 40 years from its arrival in the market, the best seller up to October 2023 is always the same: the city-car Fiat Panda which has a substantial advantage over all the followers (6.6% market share), with sales at 84,398 (-3.9%).

The Dacia Sandero, with 3.2% market share, rises 2 spots into 2nd with 40,717 units sold so far and a 49.0% increase from the previous year. The Lancia Ypsilon, ranks in 3rd position with 37,883 sales, an 8.9% year-on-year growth. 

The Toyota Yaris Cross rises 4 spots into 4th with 29,200 sales and a 33.7% boom in ytd volume.

The Volkswagen T-Roc jumps 6 spots into 5th with 27,240 sales (+29.5%), in front of the Fiat 500 at  26,590 (+9.3%), the Dacia Duster at 25,626 (+20.8%) and Ford Puma in 8th with 25,586 sales (+0.9%).

The Citroen C3 falls 6 spots into 9th with 25,379 sales (-8.6%) and the Fiato 500x rises 2 spots into 10th position with 24,581 registrations (+19.6%).

Tables with sales figures

In the tables below we report sales for Top 40 models.

Excel Dataset

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Table of contents

• Country Overview
  • Geography
  • History
  • People & Politics
• Economic Outlook
  • Economy
  • Infrastructure
• Market Outlook
  • Market Heritage
  • Car Passenger’s segmentation
  • LCVs segmentation
  • Car Passengers Body Type mix
  • LCVs Body Type mix
  • Premium segment share
  • Chinese OEMs share
• Key Players
  • Top selling Groups 2022
  • Top selling Brands 2022
  • Premium Brands
  • Chinese Brands
• Market Data By Model
  • Top selling Models 2022
  • Top models by segment and body type
• Key Factors for market Evolution
  • Country development
  • Economic Outlook
  • Customer base evolution
  • Low-Carbon Transition Policy
  • Infrastructure & Investments
• 2023-2028 Volume Forecast
  • TIV evolution by segment
  • Cars and LCVs forecast
  • Segments forecast
  • Premium segment share forecast
  • Chinese OEMs share forecast
  • Forecast by Manufacturer

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Serbia’s vehicle market in September 2023 grows for the second consecutive month after falling 2.2% in July, reporting 2,150 vehicle sales (+5.6%). YTD figures at 22,958 are up 3.4% from the previous year.

Market Trend and Outlook

Serbia’s economic growth slowed in the first half of 2023 as decelerating private and public investment as well as elevated inflation hurt consumption and weighed on economic activity. In fact, economic growth is expected at 2% by the end of this year, with risks to the outlook tilted to the downside.

This is reflected in the current trend in the Serbian vehicle market which grew for the second consecutive month in September 2023 after falling 2.2% in July, reporting 2,150 new vehicle sales (+5.6%). YTD figures at 22,958 are up 3.4% from the previous year.

Looking at cumulative data up to September 2023 brand-wise, the leader Skoda reports a 7.9% growth in sales while holding 21.0% market share, followed by Volkswagen which gained 81.7%. Renault maintains 3rd position with a 4.6% increase in year-on-year sales.

Fiat falls 2 spots into 4th with 2,005 sales (-36.0%), followed by Toyota at 1,859 sales (+22.9%), Hyundai  at 1,833 (+15.9%), Kia at 1,749 (+13.9%) and Citroen maintaining 8ths spot with 1,289 cumulative regis90trations (-15.3%).

Dacia falls 5 spots into 9th spot with 1,116 new registrations (-32.1%) and Opel closes the top 10 with 697 cumulative sales  (+29.3%).

The Skoda Octavia is the best selling model with a 48.1% increase in volume compared to 2022, followed by the Volkswagen Arteon which grew 59 spots.

Medium-Term Market Trend

In the last decade the Serbian vehicle market fluctuated between the 20k and the mid to high 30k range. In 2011 started a 4 year long collapse that would bring the market from 38,179 sales in 2010 to 19,698 cumulative sales by the end of 2014. Luckily it bounced back in the following year, rising 10.0% in year-on-year volume. Sales continued to grow and the Serbian vehicle market maintained the momentum through 2019, where total volume reached 34,197 registrations, a new all-time high.

The arrival of the pandemic in 2020 caused the Serbian light vehicle market to collapse, with sales falling 23.3% to 26,241.

The downfall was not due to structural issues in the market, in fact it grew back 16.8% in the following year reaching the 30k mark once again. In 2022 the uptrend came to a stop, with total volume falling 5.6% to 28,845. Despite a the positive start to 2023 the market will have to confront a series of issues that put downward pressure on sales: like the disruption of global supply chains caused by a lack of raw materials that has induced an overall increase in vehicle prices.

Tables with sales figures

In the tables below we report sales for all Brands and top 10 Manufacturers Group.

Serbia’s vehicle market in 2022 totaled 28,845 new sales, a 5.6% loss from the prior year. In December sales fell for the 4th consecutive month, reporting 2,494 new vehicle registrations (-12.7%).

Market Trend and Outlook

Serbia’s vehicle market in 2022 totaled 28,845 new sales, a 5.6% loss from the prior year. In December sales fell for the 4th consecutive month, reporting 2,494 new vehicle registrations (-12.7%).

Looking at cumulative data from 2022 brand-wise, the leader Skoda reports a 1.5% fall in sales while holding 20.5% market share, followed by Fiat which gained 1.3%. Renault maintained 3rd spot despite losing 10.6%.

Tables with sales figures

In the tables below we report sales for all Brands and top 10 Manufacturers Group.

The best-selling car ranking in Italy is dominated by small and medium cars due to the high use of vehicles in the urban environment and the arrival of electric and hybrid vehicles has not changed thew picture.

The traditional narrow streets of the Italian towns and the difficulties to find parking areas continue to be the first driver for people to prefer small cars. In the last decade, the increased average price and the reduced purchasing power have further forced a large part of the population to choose a low-cost car, with the success of brands like Dacia, Kia, Hyundai.

After over 40 years from its arrival in the market, the best seller is always the same: the city-car Fiat Panda which has now a huge advantage over all the followers, with year to date sales at 105,384 (-6.1%).

The second place is held by another pure Italian aged car. Launched in the early nineties the last generation of the Lancia Ypsilon is second with 40,968 sales (-6.3%) followed by the iconic Fiat 500. This model was originally launched in the fifties and subsequently re-launched in 2006. In all of these years the Fiat 500 was able to stay on top of the leaderboards, securing 3rd with 33,994 sales (-24.2%).

The first foreign model in the rankings is the Dacia Sandero, jumping 4 spots into 4th position with 33,920 (+16.7%) ahead of the Citroen C3 -up 2 spots– with 31,861 (+2.9%), the Jeep Renegade -down 2 spots- with 29,844 (-14.9%) and the Ford Puma with 29,455 sales (+3.5%).

The Toyota Yaris ranks in 8th with 27,789 (-14.6%), followed by the Toyota Yaris Cross -up 51 spots- with 25,997 sales (+250.6%) and the Peugeot 208 closing the Top 10 with 25,819 sales (+9.8%).

Tables with sales figures

In the tables below we report sales for Top 40 models.

Serbia’s car market in 2021 rises by 16.4% with 30,554 sales, gaining only in Q2 and Q3. Dacia is the only brand to report a drop in sales, falling 26.2%.

Market Trend

The Serbian car market this year attempted to recover from the pandemic crash of 2020 and reported a positive performance only in Q2 and Q3, nevertheless YoY sales are positive.

The market in recent years has been recovering after the huge fall reported in the 2009-2014 crisis. Light vehicle sales grew up from 19,698 in 2014 to 29,010 in 2017. In 2018, the market kept growing, ending with 29,721 sales (+2.4%). In 2019, the market signed the 5th consecutive year of gain by selling 34,197 units, surging 15.1% from the previous year. 

Due to the COVID-19 Pandemic full-Year sales for 2020 have been 26,241, reporting a decline of 23.3% compared to 2019.

In 2021 the year started positively for the Serbia car market, in fact, in Q1 6,243 units have been sold, reporting an 13.5% decrease in sales compared to Q1 2020, while in Q2 growth accelerated, reporting a 151.2% increase in sales with 9,322 units due to the incredibly low sales volume registered in Q2 2020.

In Q3 sales rose 4.4% with 7,720 units sold, while in Q4 sales fell 8.1% with 7,269 units sold.

Indeed, Full-Year sales for 2021 have been 30,554, reporting a 16.4% increase compared to 2020.

Brand-wise, this year the leader Skoda (+47%) gained 4.1% market share, followed by Fiat (+13.8%), which gained 13.8% and lost 0.3% share. Renault lost 0.2% share, rising 14.4%.  Volkswagen remained in 4th place and gained 43.1%, followed by Ford which reported the best performance by gaining 176.6% and rose 11 spots.

Toyota gained 22.6%, followed by Opel (+22.1%) and followed by  Citroen which rose 2 spots and gained 71.7%. Closing the leaderboard we have Hyundai gaining 10.2% and on the other hand Dacia reported the worst performance and dropped 5 spots, losing 26.2%.

Tables with sales figures

In the tables below we report sales for all Brands and top 10 Manufacturers Group.

The best-selling car ranking in Italy is dominated by small and medium cars due to the high use of vehicles in the urban environment.

The traditional narrow streets of the Italian towns and the difficulties to find parking areas continue to be the first driver for people to prefer small cars. In the last decade, the increased average price and the reduced purchasing power have further forced a large part of the population to choose a low-cost car, with the success of brands like Dacia, Kia, Hyundai.

In 2021, the city-car Fiat Panda remains the best-selling car. With 112,198 sales (+40%), the Panda holds 7.8% share.

The Fiat 500 reaches 2nd position -up 30 spots- and reports 44,825 sales (+229.7%) with 3.1% market share, followed by the Lancia Ypsilon, which reached the third spot by rising 6 spots, selling 43,715 units (+70.4%) with 3% share as well.

In 4th and 5th positions there were respectively the Jeep Renegade -up 1 spot– with 35,052 sales (+18.9%) and the Toyota Yaris –up 57 spots- with 32,552 units (+398%).

The Fiat 500X fell in 6th position with 31,924 units sold (+0.5%), followed by the Citroen C3 -down 1 spot- with 30,952 units sold (+6.2%).

The Dacia Sandero falls 1 spot with 29,070 units sold (+3.5%), followed by the Ford Puma -up 3 spots- with 28,471 units sold (+18%).

At the end of the Top 10 ranking, we find the Jeep Compass with 28,398 sales (+22.7%).

Tables with sales figures

In the tables below we report sales for Top 40 models.

Iceland’s car market in 2021 rises by 53.6% with 16,108 sales, reporting a very strong performance every quarter, except for a slight 7.4% drop in Q1. Peugeot enters the leaderboard and reports the best performance (+110%).

Market Trend

Iceland’s car market this year recovered very effectively from the pandemic crash of 2020 and reported a very strong performance in all quarters except Q1.

The automotive industry has been on a positive track from 2014 to 2017 when it hit the highest volume since 2009. However, in 2018 the market suffered a hard drop of 15.7%  and car passenger sales have been 17,871, much less than the previous year’s 21,204.

In 2019, According to data released by the Minister of Transportation, the market trend even worsened. Indeed, Total sales have been 16,559 (-7.3%).

Due to the COVID-19 Pandemic, full-Year sales for 2020 have been 9,184, reporting a decline of 44.5% compared to 2019.

In 2021 the year started negatively for the Icelandic market, in fact, in Q1 2,521 units have been sold, reporting a 7.4% decrease in sales compared to Q1 2020, but on the other hand in Q2 sales started growing quickly, reporting a 108.1% increase in sales with 5,004 units due to the incredibly low volumes in Q2 2020.

In Q3 sales kept growing very quickly, gaining 51.3% sales with 4,546 units, followed by a 71.3% growth in Q4 with 4,037 units.

Indeed, Full-Year sales for 2021 have been 16,108, reporting a 53.6% increase compared to 2020.

Brand-wise, this year the leader Toyota (+37.5%) lost 1.3% market share, followed in second place by Kia (+95.9%), which gained 3% share, and Hyundai (+66.3%) with 8.2% share.  Tesla fell in 4th place and gained 15.7%, followed by Volkswagen which gained 27.7%.

Volvo -up 2 spots- gained 46.2%, followed by Suzuki (+32.6%) and Mercedes which rose 3 spots and gained 79.2% sales. Closing the leaderboard we have Peugeot gaining 110% and rose 5 spots, and Skoda in last place gaining 24.5%.

The most sold vehicle this year is the Toyota Rav4 (+17.7%) with 624 units sold, followed by the Hyundai Tucson registering 533 new sales this year (+294.8%). The Tesla Model Y closes the podium and reports 532 new units sold.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.

Icelandic vehicles market in 2020 falls by 44.5% as the pandemic and lockdowns affect sales. Full-Year sales have been 9.184. Toyota remains the leader, followed by Tesla and Kia, while Nissan falls 63.3%.

Economic Environment

After suffering the second-sharpest contraction on record in Q2, the economy started to show tentative signs of recovery towards the end of Q3. Consumer confidence shot up in September from August’s near-decade low, while exports rebounded strongly in the same month to their highest value since October 2019.

However, the unemployment rate ticked up to a four-month high in September, likely capping private consumption. Moreover, overnight stays decreased at a sharper rate in September than in August, pointing to a still-subdued tourism sector. Turning to Q4, new Covid-19-related restrictions were implemented in early October due to a rapid surge in new cases, which will likely hamper economic activity in the quarter.

Meanwhile, on the political front, on 1 October, the government tabled the 2021 draft budget, which focuses on improving healthcare, welfare and education, while easing the tax burden.

Market Trend

The Icelandic car market has been hit in 2020 by the world-wide COVID-19 pandemic, which has impacted sales significantly.

The automotive industry has been on a positive track from 2014 to 2017m when it hit the highest volume since 2009. However, in 2018 the market suffered a hard drop of 15.7%  and car passenger sales have been 17.871, much less than the previous year’s 21.204.

In 2019, According to data released by the Minister of Transportation, the market trend even worsened. Indeed, Total sales have been 16.559 (-7.3%).

After starting the year with a negative trend (-16.2% in January and -13.4% in February), the market was flat in March but quickly collapsed in April (-69%) as the virus reached the island. The sharpest drop in sales this year was in May when sales declined by 74.4%. In the following months, the market experienced a very mixed trend, with sharp increases and decreases in sales.

Indeed, Full-Year sales for 2020 have been 9.184, reporting a decline of 44.5% compared to 2019.

Brand-wise, this year the leader Toyota (-54.2%) lost 3.3% market share, followed in second place by Kia, which now holds 10.1% share, and Tesla with 9.8% share.  Hyundai fell in 2nd place and lost 53.8%, followed by Volkswagen which lost 50.8%.

Mitsubishi remained in 6th place and lost 38.8%, followed by Suzuki (-40.4%) and Volvo which lost 34.8% sales. Closing the leaderboard we have Nissan losing 63.3% this year and Skoda in last place losing 49.1%.

The most sold vehicle this year is the Tesla Model 3 with 856 units sold, followed by the Toyota Rav4 registering 530 new sales this year (-23.9%). The Mitsubishi Outlander (+26.6%) closes the podium and reports 529 new units sold.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.

Serbian auto market in 2020 falls by 23.3% as the pandemic and lockdowns affect sales. Full-Year sales have been 26.241, while Renault is the only brand in the leaderboard to report growth by rising 16.2%.

Economic Environment

The economy should have shrunk at a softer pace in the third quarter amid the reopening of economies. Industrial production swung from a notable contraction in the second quarter to a solid expansion in the third. Moreover, retail sales grew at a solid pace in July–September, contrasting Q2’s drop.

On the external front, merchandise exports continued to contract in the first two months of Q3, although at a noticeably softer pace compared to Q2. Similarly, the drop in tourist arrivals in July–August was less severe than the fall seen in the prior quarter.

Meanwhile, a new government was installed on 29 October, but President Aleksandar Vucic stated in mid-October that a snap election would be held by 3 April 2022 at the latest. The new government will work towards EU membership while strengthening the health care system and the economy in the wake of Covid-19.

Market Trend

The Serbian car market has been hit in 2020 by the world-wide COVID-19 pandemic, which has impacted sales significantly.

The market in recent years has been recovering after the huge fall reported in the 2009-2014 crisis. Light vehicle sales grew up from 19.698 in 2014 to 29.010 in 2017. In 2018, the market kept growing, ending with 29.721 sales (+2.4%). In 2019, the market signed the 5th consecutive year of gain by selling 34.197 units, surging 15.1% from the previous year. 

After growing for 5 years in a row, Full-Year sales for 2020 have been 26.241, reporting a 23.3% decrease compared to 2019.

Brand-wise, this year the leader Skoda (-30.7%) lost 1.6% market share, followed by Fiat (-33.9%), which reported the worst performance in the leaderboard and lost 2.2% share. Renault -up 1 spot- gained 3.4% share, rising 16.2% and reporting the best performance.  Volkswagen fell in 4th place and reported a loss of 29.1%, followed by Dacia which lost 27%.

Toyota -up 1 spot- lost 16.9%, overtaking Opel (-27.3%) and followed by  Hyundai which lost 23.4%. Closing the leaderboard we have Mercedes entering the leaderboard by losing 10.6% and on the other hand Citroen losing 26.8%.

Tables with sales figures

In the tables below we report sales for all Brands and top 10 Manufacturers Group.