Serbia 2018. Market up four years in a row

Serbia Car sales has grown again in 2018 with 29.721 sales, marking the fourth consecutive year of gain, up 2.4%.  Fiat was again the market leader, despite Skoda took the leadership during the first part of the year. Remarkable performances were scored by Nissan and Lada.

Economic Environment

Serbia economy cooled further at the end of 2018, following softer growth in the third quarter. While details of the Q4 GDP print are not yet available, significantly weaker industrial production throughout the quarter and a notable slowdown in merchandise export growth in December suggest softer external demand. Nevertheless, the domestic economy likely continued to bolster growth.

Growth prospects for 2019 remain favorable, although momentum will ebb from 2018’s stellar pace. Domestic demand should continue to drive growth on the back of a strengthening labor market, fiscal stimulus, and FDI inflows. A larger-than-expected slowdown in the Eurozone remains the principal downside risk to the outlook.

Market Trend

Serbian vehicles market in recent years is recovering after the huge fall reported in the 2009-2014 crisis. According to data reported by the local Association of Car Manufacturers, light vehicles sales grew up from the 19.698 in the 2014 to 29.010 in the 2017.

In the 2018, the market kept growing. Indeed, sales ended the year at 29.721, signing the fourth consecutive year of gain, improving by 2.4% from the previous year.

Market Trend

At brand-wise, the 2018 market leader was again Fiat with 4.384 sales (+11.6%) with 14.8% of market share.

In second place, Skoda, with 4.047 sales (+13.4%) followed by Volkswagen with 2.580 sales, (-3.2%), Renault with 2.223 (+7.4%), Dacia with 1.903 (+8.7%) and Opel with 1.722 (-2.3%).