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.

Bosnia’s Auto market in 2021 rises by 11.9% with 7,538 sales, reporting a positive performance all year except for Q1. Kia reported the best performance on the leaderboard, rising 121%.

Market Trend

Bosnia’s car market this year reported a positive performance, growing all year except for Q1.

The market in recent years has recovered following the deep fall scored in the 2008-2009 crisis. Moreover, after reporting a sharp drop in 2013, the market has steadily recovered reaching in 2017 10,803 sales – up 21.8% – keeping a positive score trend also during 2018, when registrations grew 1.1% at 9,690. In 2019, the market held a positive trend, with total sales at 9,866 (+1.8%).

Due to the COVID-19 pandemic sales fell in  2020. In fact, 7,267 units have been sold, reporting a decline of 26.3% compared to 2019.

In 2021 the year started negatively for the Bosnian market, in fact, in Q1 1,622 units have been sold, reporting a 12% decrease in sales compared to Q1 2020, in Q2 sales started growing quickly, reporting a 55.1% increase in sales with 2,193 units due to the extremely low sales reported in Q2 2020.

In Q3 sales slowed down, gaining 8.1% sales with 1,959 units, and rose 5.8% in Q4 with 1,764 units.

Indeed, Full-Year sales for 2021 have been 7,538, reporting a 11.9% increase compared to 2020.

Brand-wise, this year the leader Skoda (-7.5%) lost 3.6% market share, followed by Volkswagen (+24.8%), which gained 1.5% share. Toyota gained 2% share, rising 54.3%.  Dacia fell in 4th place (+5.7%), followed by Renault which gained 15.3%.

Kia -up 4 spots- gained 121% reporting the best performance, followed by Hyundai -down 2 spots- which gained 8.2%, and Peugeot which lost 1.5% sales. Closing the leaderboard we have Audi -down 1 spot- losing 10.8% this year, reporting the worst performance on the leaderboard, and Mercedes entering the leaderboard by jumping 1 spot, gaining 40.5%.

The most sold vehicle this year has been the Skoda Octavia (-21%) with 429 units sold, followed by the Skoda Fabia, which gained 38.5% registering 338 new sales this year. The Kia Sportage (+277.5%) closes the podium and reports 336 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

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.

Bosnian auto market in 2020 falls by 26.3% as the pandemic and lockdowns affect sales. Full-Year sales have been 7.267, while Opel falls 3 spots and loses almost half its sales (-48.3%).

Market Trend

The Bosnian 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 recovered following the deep fall scored in the 2008-2009 crisis. Moreover, after reporting a sharp drop in 2013, the market has steadily recovered reaching in 2017 10.803 sales – up 21.8% – keeping a positive score trend also during 2018, when registrations grew 1.1% at 9.690. In 2019, the market held a positive trend, with total sales at 9.866 (+1.8%).

After starting the year with a slightly positive trend (+3%), the market quickly collapsed in March as the virus struck. The sharpest drop in sales this year was in April when sales declined by 71.6% as the entire country was put in a complete lockdown.

In the second half of the year the market struggled to recover effectively, remaining down in double-digits until November (+2.4%) and maintained this new positive trend in December (+9.3%).

Indeed, Full-Year sales for 2020 have been 7.267, reporting a decline of 26.3% compared to 2019.

Brand-wise, this year the leader Skoda (-20.4%) gained 1.5% market share, followed by Volkswagen (-7.2%), which gained 2.9% share and reported the top 10 hold. Dacia lost 1.4% share, falling 40.2%.  Renault reached 4th place by jumping 2 spots (-21.6%), followed by Toyota which lost 34.2%.

Hyundai -up 1 spot- lost 20.2%, followed by Opel -down 3 spots- which reported the worst performance in the leaderboard by losing 48.3%, and Audi which jumped 2 spots and lost 10.1% sales. Closing the leaderboard we have Peugeot -down 1 spot- losing 34.2% this year and Citroen entering the leaderboard by jumping 1 spot, losing 39%.

The most sold vehicle this year has been the Skoda Octavia (-17.2%) with 709 units sold, followed by the Skoda Fabia, which lost 16.7% registering 305 new sales this year. The Hyundai Tucson (-10.3%) closes the podium and reports 286 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.

Market Trend in June

In June 168 vehicles have been sold in Montenegro, a 30% increase compared to last year. This leads the First Half sales at 739, down 4.5%.

In the competitive landscape, Dacia is the new leader in the first half, gaining 72.3% in the first half, followed by Skoda, increasing sales by 56.5%. The worst top 10 hold was registered by Renault, decreasing by 42.2%. Volkswagen drops down from first place to fourth, losing 40.2% in the first half.

Post Covid19 Market Trend

The Car market increased by 5.5% in the Q1 with 408 units sold, however in the Q2 the market was hit by the COVID-19 epidemic, dropping sales by 14.4% with 331 sales.

In the tables below we report sales for all Brands and top 10 Manufacturer Groups.

Q2 2020 Light Vehicles sales figures

In 2020 the markets started on a negative tone, as the Coronavirus outbreak induced the Government to announce special measures. Indeed, from March 16 the government banned entrance to Georgia for any foreign nationals for the next two weeks, while recommendations were made to all elderly citizens to avoid mass gatherings and isolate themselves. As a result, in the First Quarter the market crumbled 28.1% with 787 units sold.

In the second quarter, the market has moderately improved, with 868 units sold, despite the country faced unprecedented economic contraction in April-May, due to strict lockdown measures and closure of non-essential businesses. Furthermore, the Government delayed the opening of international borders to 31 July.

As a result, the First Half ended with sales at 1.650, down 22.9% from the previous year.

Brand-wise, Toyota kept the market crown, reaching 32.7% market share, ahead of Hyundai and a fast-growing Mitsubishi, which jumped directly on the podium.

Medium Terms Market Trend

Georgian vehicles market in recent years has been quite stable with total vehicles sales in 2017 at 3.470, down 1.3% from the previous year. However, despite all positive news from the economic and political side, the development of new vehicles market is still limited by the import of second hands vehicles from other CIS countries. In 2018 the market fully recovered ending the year with registrations at 4.073 (+17.4%) and in 2019 it further improved, reaching 5.670 units sold (+39.2%).

Tables with sales figures

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

Serbia Car sales in 2019 reported the 5th consecutive year of growth. Indeed, the Full-year ended with sales at 34.197, surging 15.1% from the previous year. Skoda went on top of the ranking, overtaking the former leader Fiat. Volkswagen fell down at 6.6% of share.

Economic Environment

Serbia economy accelerated more than expected in the third quarter, as fixed investment grew at a seven-year high pace on the back of robust construction activity and an improving business climate. Public and private consumption also performed well in Q3.

The economy likely extended its solid track record into the final quarter. Retail sales rose robustly in October–November, which, coupled with favorable credit conditions and rising wages, points to solid private consumption in the fourth quarter.

Moreover, merchandise export growth gathered pace in the same period, while industrial production continued to recover in November after having contracted in H1.

Market Trend

Serbian vehicles market in recent years is recovering after the huge fall reported in the 2009-2014 crisis. Light vehicles sales grew up from the 19.698 in the 2014 to 29.010 in the 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. Indeed, according to data reported by the local Association of Car Manufacturers, the Full-year ended with sales at 34.197, surging 15.1% from the previous year.

At brand-wise, Skoda – which has gained over 3 points of share from 2018 – jumped on top of the ranking, overtaking the former leader Fiat. The Italian brand ended the year at 16% of share, followed by Volkswagen at 6.6%.

Rank 2019	Rank 2018	Brand	Sales 2019	+/- YTD	Share 2019
1	2	Skoda	5.896	45,7%	17,24%
2	1	Fiat	5.458	24,5%	15,96%
3	3	Volkswagen	2.271	-12,0%	6,64%
4	4	Renault	2.229	0,3%	6,52%
5	5	Dacia	2.169	14,0%	6,34%
6	6	Opel	1.751	1,7%	5,12%
7	8	Toyota	1.649	22,1%	4,82%
8	9	Hyundai	1.587	46,4%	4,64%
9	7	Ford	1.304	-12,8%	3,81%
10	11	Citroen	1.177	31,3%	3,44%
11	10	Mercedes	1.104	6,7%	3,23%
12	12	Audi	929	9,1%	2,72%
13	13	Peugeot	864	6,4%	2,53%
14	14	Nissan	843	13,9%	2,46%
15	16	BMW	737	10,3%	2,15%
16	15	Kia	714	4,8%	2,09%
17	17	Mazda	486	-4,5%	1,42%
18	18	Lada	468	7,3%	1,37%
19	19	Suzuki	462	7,7%	1,35%
20	24	Volvo	265	28,4%	0,77%
21	22	Jeep	255	12,4%	0,75%
22	21	Iveco	252	2,7%	0,74%
23	20	Land Rover	232	-26,2%	0,68%
24	25	Seat	221	45,6%	0,65%
25	23	Honda	154	-28,9%	0,45%
26	29	Jaguar	127	121,1%	0,37%
27	34	Isuzu	118	443,3%	0,34%
28	28	Mitsubishi	114	95,2%	0,33%
29	26	Porsche	104	20,8%	0,30%
30	27	Alfa Romeo	60	-23,3%	0,18%
31	30	Mini	53	-6,4%	0,15%
32	33	GAZ	31	8,3%	0,09%
33	32	Subaru	31	-17,5%	0,09%
34	37	Lexus	17	132,9%	0,05%
35	31	Smart	14	-65,0%	0,04%
36	43	Abarth	12		0,04%
37	35	SsangYong	9	-42,8%	0,03%
38	36	Infiniti	9	-16,4%	0,03%
39	39	Great Wall	7	243,8%	0,02%
40	41	Bentley	5	369,9%	0,01%
41	38	Piaggio	3	-54,6%	0,01%
42	42	Maserati	3	200,0%	0,01%
43	40	Chevrolet	2	8,8%	0,01%
44	43	Dodge	2		0,01%
45	41	Rolls-Royce	1	8,8%	0,00%

Rank 2019	Rank 2018	Group	Sales 2019	+/- 2019	Share 2019
1	1	Volkswagen Group	9.426	22,1%	27,56%
2	3	F.C.A.	6.043	22,4%	17,67%
3	2	Renault Nissan Alliance	5.832	8,6%	17,05%
4	4	P.S.A.	3.792	10,5%	11,09%
5	5	Hyundai-Kia	2.301	30,4%	6,73%
6	7	Toyota Group	1.666	22,6%	4,87%
7	6	Ford Group	1.304	-12,8%	3,81%
8	8	Mercedes Daimler	1.117	4,1%	3,27%
9	9	BMW	791	9,0%	2,31%
10	10	Mazda	486	-4,5%	1,42%

Rank 2019	Rank 2018	Model	Sales 2019	2019 Var
1	1	Skoda Octavia	1525	-6,4%
2	2	Skoda Fabia	1467	6,2%
3	10	Fiat Tipo	1191	64,3%
4	5	Dacia Sandero	975	0,8%
5	54	Fiat 500	970	798,1%
6	15	Fiat Doblo	875	86,6%
7	3	Fiat 500L	851	-28,3%
8	6	Skoda Superb	836	-8,3%
9	11	Renault Clio	733	2,8%
10	4	Skoda Rapid	697	-35,0%

Bosnian vehicles market in 2019 has reported the 6th consecutive growing year. Indeed, Total sales have been 9.866, up 1.8% from the previous year. Skoda held 18.1% of share, increasing the gap from Volkswagen, which declined by 28.6%. Dacia gained the market podium.

Economic Environment

Bosnian economic growth was likely tepid in H2, after slowing throughout the first half of 2019, although comprehensive data is still outstanding. Industrial production slumped in July–November, amid ongoing manufacturing sector weakness, while exports fell sharply in the same period.

More positively, unemployment dropped in July–October compared with H1, while wages increased over the same period, boding well for private consumption.

Market Trend

Bosnian vehicles market in recent years has recovered following the deep fall scored in the 2008-2009 crisis. In the last five years annual sales volume grew up from 6.514 in the 2014 to 8.870 in the 2016, recovering the 2013 fall. In the 2017, light vehicles sales have been 10.803, up 21.8%, keeping a positive score trend also during the 2018, when regstrations grew 1.1% at 9.690.

In 2019, the market held a positive trend. Indeed, Total sales have been 9.866, up 1.8% from the previous year.

In the competitive landscape, Skoda has been the undisputed leader for the entire decade, except during 2014, when Volkswagen outpaced the historic leader. However, in 2019, Skoda kept leading the market with 18.1% of share, recovering almost 2 points after the 2017’s sharp drop.

Volkswagen ended to to a negative peak of 11.2% of share – losing near 7 points from 2014 – reporting the worst performance in the Top 10. Meanwhile, Dacia gained the market podium, growing from 4.4% of share in 2012 to 7.8%.

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Rank 2019	Rank 2018	Brand	Sales 2019	Sales December	+/- YTD	Share 2019	Share December
1	1	Skoda	1.787	83	-1,2%	18,11%	11,25%
2	2	Volkswagen	1.105	67	-28,6%	11,20%	9,08%
3	4	Dacia	772	73	19,9%	7,82%	9,89%
4	3	Opel	692	65	-4,0%	7,01%	8,81%
5	5	Toyota	638	39	4,9%	6,47%	5,28%
6	6	Renault	560	100	6,9%	5,68%	13,55%
7	7	Hyundai	519	45	22,7%	5,26%	6,10%
8	8	Peugeot	482	58	14,2%	4,89%	7,86%
9	9	Ford	469	17	14,7%	4,75%	2,30%
10	11	Audi	396	8	18,2%	4,01%	1,08%
11	10	Citroen	385	24	10,6%	3,90%	3,25%
12	12	Mercedes	300	3	10,3%	3,04%	0,41%
13	15	Seat	244	19	34,1%	2,47%	2,57%
14	13	Kia	223	26	-12,2%	2,26%	3,52%
15	14	Suzuki	222	5	-0,4%	2,25%	0,68%
16	17	Fiat	214	15	28,1%	2,17%	2,03%
17	18	BMW	181	27	46,0%	1,83%	3,66%
18	16	Nissan	152	5	-11,1%	1,54%	0,68%
19	19	Volvo	142	8	16,4%	1,44%	1,08%
20	21	Porsche	98	-	38,0%	0,99%	0,00%
21	20	Lada	82	29	-29,9%	0,83%	3,93%
22	22	Mazda	76	18	26,7%	0,77%	2,44%
23	23	Land Rover	60	3	17,6%	0,61%	0,41%
24	24	Jeep	25	-	-39,0%	0,25%	0,00%
25	26	Jaguar	24	1	20,0%	0,24%	0,14%
26	25	Alfa Romeo	13	-	-38,1%	0,13%	0,00%
27	28	Mitsubishi	3	-		0,03%	0,00%
28	27	Mini	1	-	-50,0%	0,01%	0,00%
28	27	Infiniti	1	-	-50,0%	0,01%	0,00%

Rank 2019	Rank 2018	Group	Sales 2019	Sales December	+/- 2019	Share 2019	Share December
1	1	Volkswagen Group	3.630	177	-8,0%	36,79%	23,98%
2	3	Renault Nissan Alliance	1.570	207	7,7%	15,91%	28,05%
3	2	P.S.A.	1.559	147	4,6%	15,80%	19,92%
4	4	Hyundai-Kia	742	71	9,6%	7,52%	9,62%
5	5	Toyota Group	638	39	4,9%	6,47%	5,28%
6	6	Ford Group	469	17	14,7%	4,75%	2,30%
7	7	Mercedes Daimler	300	3	10,3%	3,04%	0,41%
8	8	F.C.A.	252	15	10,0%	2,55%	2,03%
9	9	Suzuki	222	5	-0,4%	2,25%	0,68%
10	10	BMW	182	27	44,4%	1,84%	3,66%

Rank 2019	Rank 2018	Model	Sales 2019	2019 Var
1	1	Skoda Octavia	856	43,9%
2	2	Skoda Fabia	366	-32,6%
3	7	Hyundai Tucson	319	30,7%
4	3	Volkswagen Golf	306	-28,8%
5	5	Dacia Duster	301	7,5%
6	6	Dacia Sandero	298	15,1%
7	13	Volkswagen Caddy	277	83,4%
8	11	Renault Clio	256	54,2%
9	8	Toyota Yaris	216	-4,0%
10	10	Opel Astra	205	17,1%