Belarus Vehicle Market in 2023 rises exponentially. Sales in September reached 4,320 (+109.9%) while YTD stood at 32,903 (+234.9%). Most Top 10 Brands posted impressive year-on-year growth; still, Geely secured dominat spot (+114.6%).
Market Trend and Outlook
Belarus’s economic outlook for 2024 indicates moderate growth, with GDP projected to expand by approximately 4%, supported by strong consumer demand and low unemployment, though labor shortages have increased wage pressures. Inflation remains elevated, with consumer prices expected to rise between 5% and 7%, while external trade faces ongoing challenges due to sanctions and fluctuating export prices. Looking forward to 2025, GDP growth is expected to decelerate to 0.5%-1.5% as higher interest rates slow demand, while inflation may edge higher. Despite these challenges, targeted investments and policy adjustments may help Belarus manage risks and maintain economic stability.
Belarus’s vehicle market in 2024 posted impressive growth since the beginning of the year. Sales in September totaled 4,320 new registrations (+109.9%). YTD figures reached 32,903 cumulative sales (+134.9%).
Looking at cumulative data from September 2024 brand-wise, the leader Geely reported a 114.6% increase in sales YTD while holding 66.1% market share, followed by UAZ which gained 103.7%, reporting a great performance on the podium. Vohan -up 8 spots- closed the Top 3 reporting a 2354.7% increase.
The best-selling car was the Geely Coolray, up 136.2% from the prior year, followed by the Geely Atlas Pro up 117.4%.
