Moldavian vehicles market in 2024 saw strong growth, rising 13.7% year-over-year to surpass 10,000 units for the first time. The top 10 brands remained dynamic, with Skoda and Dacia battling to dethrone Toyota from the top spot.
Economic Environment
Moldova’s economic recovery, which began in late 2023, is expected to strengthen through 2024 and 2025, driven by rising private consumption, investment, and strong net exports. Inflation dropped sharply in 2023, allowing for monetary easing, though it is expected to rise slightly in late 2024 due to higher administrative prices for healthcare and fuel tariffs.
Real wages and pensions are set to grow, boosting household incomes, while employment is expected to increase further, particularly as more women enter the labor force. The fiscal deficit is projected to narrow gradually as public investment improves and energy price support measures phase out, while public debt is expected to stabilize at around 40% of GDP. Despite Moldova’s trade deficit remaining wide due to its reliance on energy imports, it is expected to shrink as energy prices fall and ICT-led service exports grow.
Automotive Industry Trend and Outlook
Overall, the moldavian vehicle market reported 10,155 units in 2024, with a 13.2% growth in year-on-year volume.
The country reported record vehicle registrations, surpassing the 10,000 unit-treshold for the first time and building on the steady upward trajevctory of the past 5 years.
Brand-wise, this year the leader was again Toyota (-5.5%) with a 21.3% share, followed by Skoda -up 1 spot- (+17.9%) with 17.9% share. Dacia (+17.8%) dropped to 3rd, with 14.5% share.
The most sold model in the country was the Dacia Duster, growing 29.7% and holding a 8.2% market share. The Toyota RAV4 followed in 2nd, up 1 spot and 7.6%, while the Kia Sportage ranked 3rd, dropping one spot and 10.1%.
