Ukrainian Vehicle Market grew by 3.9% in year-on-year volume in October 2024 as monthly sales totaled 5,807 units. YTD figures reached 58,542 units (+20.2%). Nissan posted the strongest performance, growing 5 spots into 6th.
Market Trend and Outlook
Russia’s war in Ukraine continues to cause severe economic and humanitarian impacts, with stalled frontlines and ongoing combat in eastern and southern Ukraine. The war has led to significant human and physical capital losses, decreased living standards, increased poverty, and damaged infrastructure. Despite these challenges, Ukraine’s resilient population and effective policymaking have maintained macroeconomic and financial stability, with continuous external support crucial for medium-term recovery and EU accession.
Stronger-than-expected macroeconomic indicators have led to an upward revision of the growth outlook, which is projected to be at 3-4 percent in 2024 as there are still significant risks to consider from high uncertainty, potential policy issues, and reliance on external financing.
Despite the Ukrainian market collapse in 2023, 2024 has gained a certain momentum with YTD sales reaching 58,542 units, posting a 20.2% growth. Sales in October totaled 5,807 registrations (+3.9%).
Brand-wise, Toyota secured first spot with a 8.4% increase in YTD sales while holding a 15.5% market share. Renault followed in 2nd, growing 32.3% and securing a 10.7% market share. BMW grew 2 spots and ranked in 3rd with a 12.5% increase in cumulative registrations and a share of 7.2%.
Medium-Term Market Trend
The market has been hit by economic and political crises, falling near one-tenth of the record level (over 600,000 sales) achieved over a decade ago. The negative peak was hit in 2016, with only 65,516 units sold. Then, the market registered a sign of recovery in 2017 with 82,729 units. However, sales went down 2.4% again in 2018 at 80,742.
In 2019, the market immediately recovered from the previous year’s drop, ending with total sales at 88,253 (+9.3%).
The market fell very slightly in 2020 despite the global pandemic has impacted sales significantly in Q2, in fact, full-year sales been 85,450, reporting a decline of 3.2% compared to 2019.
In 2021 the year started positively for the Ukraine market, in fact, in Q1 21,096 units have been sold, reporting a 4% increase in sales compared to Q1 2020, while in Q2 sales started growing quickly, reporting a 61.8% increase in sales with 27,284 units due to the very low volumes in Q2 2020.
In Q3 sales grew in double-digits, gaining 20.8% sales with 27,719 units, and in Q4 27,145 units were sold, gaining 7.1%.
Indeed, Full-Year sales for 2021 have been 103,244, reporting a 20.8% increase compared to 2020.
In 2023 the Ukrainian market collapsed, reporting only 59,663 units sold (-41.3%).
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.
