Romanian car market extends loss streak in 2024. New car registrations in August 2024 dropped to 9,742, down 23.3% compared to the previous year. Even so, YTD sales grew 5.7%, reaching 104,132.
Market Trend and Outlook
Real GDP growth in Romania is set to pick up reaching 3.3% in 2024 and 3.1% in 2025, thanks to accelerating private consumption supported by higher real disposable incomes. Financial conditions are expected to ease and public investment to remain robust, but external demand from main EU trading partners is set to be weak in 2024.
Inflation is projected to continue declining, but only gradually, and unemployment is expected to remain broadly unchanged. The general government deficit is set to increase to about 7% of GDP in 2024 and 2025, due to strong growth in expenditure. The debt-to-GDP ratio is forecast to reach 54% in 2025.
Despite the positive economic sentiment, the Romanian auto market in August 2024 fell for the 2nd month in a row, reporting 9,742 new registrations (-23.3%). YTD figures at 104,132 were up 5.7% compared to the prior year.
Looking at cumulative data up to August 2024 brand-wise, the leader was still Dacia with 32,049 sales (-2.1%) and 30.8% market share, followed by Toyota -up 2 spots- at 9,070 sales (+29.6%) and Hyundai -up 3 spots- with 6,961 registrations (+13.8%).
Skoda -down 1 spot- ranked in 4th with a total of 6,938 units sold (-2%), followed by Volkswagen at 6,574 (-3.3%), Renault -down 4 spots- at 6,077 (-16.5%) and Ford at 4,164 sales (-2.6%).
Suzuki in 8th with 3,438 registrations (+8.2%), in front of BMW at 3,420 sales (+11.4%) and Mercedes closed the Top 10 with 3,263 units sold (+18.4%).
Looking at specific models, reported in the dedicated article, the Dacia Duster was still the best seller with a 42.1% increase in year-on-year sales, followed by the Dacia Logan in 2nd up 2.2%.
Medium-Term Market Trend
From 2010 to 2013 the Romanian car market fell from 88,969 to 56,939 sales by the end of 2013. In 2014 started a 6 year long uptrend that would end in 2019 at the current all-time high with 161,504 new car passenger registrations.
The arrival of the pandemic in 2020 affected markets all around Europe, with the Romanian one losing 22% and reaching 126,375 sales by the end of the year.
In 2021 car passenger sales continued to fall, ending the year at 121,181 total registrations (-4%). Luckily the Romanian car market in 2022 recovered, with sales growing 6.7% to 129,327. In the following years the Romanian market is going to face issues that are emerging in the automotive industry: the disruption in the global supply chain caused by a lack of raw materials, in particular for the production of microchips and Governments push towards Evs, an expensive alternative for low income consumers.
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models
