Montenegro Automotive Industry is a small reality on the coast of Adriatic sea. The country found the independence less than ten years ago and is fighting to find internal stability. Volkswagen is market leader.
Economic Environment
While growth accelerated in Q1, recent political turmoil has the potential to destabilize economic activity in the coming quarters. Industrial production rebounded to a 6.4% expansion in June, contrasting the 5.0% decline in May.
After weeks of negotiations, Macedonia’s main political forces and mediators from the European Union reached an agreement on 15 July to end a deep political crisis that had paralyzed the country since February.
According to the deal, Prime Minister Nikola Gruevski will resign in January of next year, which will pave the way for an interim government that will prepare the new elections scheduled for 24 April 2016. In exchange, the opposition Social Democratic Union of Macedonia will return to the parliament.
Moreover, the accord includes the appointment of a new special prosecutor to investigate a wiretapping scandal.
Market Outlook
Montenegro vehicles market is a little reality in the South East Europe. We have finally found data related to recent years discovering a market almost stable with an annual volume around the 2.000 units.
This means that Montenegro’s market is one of the smaller worldwide, ranking over the 110 place.
Market leader in the full year 2014 was the German Volkswagen with 299 units sold, followed by Dacia with 234 that outpaced Renault, now third with 232 sales.
Below, you can sort our interactive tables to see data regarding Brands, Groups and Models. Please bear in mind that sales data are subject to adjustments as sources will update their information. This report is updated at the publishing date and will not be modified while the next on this subject will always have the year to date data updated.
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