Bulgaria Vehicles Market in 2024 is experiencing strong momentum. Full-year sales grew 36.6%, with tight competition on the podium as Skoda and Dacia move closer to the leader Toyota.
Market Trend and Outlook
Bulgaria’s GDP growth is set to accelerate from 2.4% in 2024 to around 3% in 2025 and 2026, driven by strong domestic demand, investment, and exports. Private consumption remains a key driver, supported by rising wages and bank lending, though it is expected to moderate as wage growth slows. Inflation is forecast to decline to 2.3% in 2025 before rising slightly in 2026 due to persistent services inflation. Unemployment will remain low, with firms expected to limit new hiring, curbing wage bidding.
The fiscal deficit is projected to widen to 2.8% of GDP by 2025 and 2026, driven by higher public sector wages, pensions, and investment. Government debt will fluctuate, decreasing to 23.1% in 2025 before rising back to 24.5% in 2026. Public investment is set to increase, fueled by EU recovery funds and military spending accruals. Despite external risks, Bulgaria’s economic outlook remains positive, with steady expansion expected through 2026.
The Bulgarian vehicles market benefitted from favourable economic conditions and reported 36.6% growth in full-year sales for 2024, growing steadily for the last 5 years.
Looking at cumulative data up to December 2024 brand-wise, Toyota remained the leader (+42.9%), followed by Skoda -up 1 spot- (+51.9%) and Dacia -down 1 spot- (+34.8%).
Volkswagen gained 1 spot into in 4th (+35.5%), in front of Renault down 1 spot (+24.1%), Hyundai (+33.5%), Kia (+36.5%) and Peugeot (+34.9%).
Ford maintained 9th position (+36.3%) and Mercedes closed the top 10 growing 37.6%.
Medium-Term Market Trend
The Bulgarian car market experienced a significant downturn in 2009 but began a steady recovery starting in 2014. By 2018, the market had grown by 35.9% compared to 2014, reaching 41,390 sales.This growth can be attributed to several factors, including a favorable economic climate and the expansion of the automotive components manufacturing sector.
However, Sales in 2020 were heavily influenced by the COVID-19 pandemic, impacting all sectors. In fact, in 2020, the market lost 11.8%. Following the decline reported during the pandemic, in 2021 and 2022 the market started to recovery, growing 15% first and then continuing on a steady growth trajectory to almost doble 2014 figures in 2024 and grow 36.6%.
Tables with sales figures
In the tables below we report sales for top 10 models.
