Serbia. Skoda taking the lead in a market up 15.1% in 2019

Serbia Car sales in 2019 reported the 5th consecutive year of growth. Indeed, the Full-year ended with sales at 34.197, surging 15.1% from the previous year. Skoda went on top of the ranking, overtaking the former leader Fiat. Volkswagen fell down at 6.6% of share.

Economic Environment

Serbia economy accelerated more than expected in the third quarter, as fixed investment grew at a seven-year high pace on the back of robust construction activity and an improving business climate. Public and private consumption also performed well in Q3.

The economy likely extended its solid track record into the final quarter. Retail sales rose robustly in October–November, which, coupled with favorable credit conditions and rising wages, points to solid private consumption in the fourth quarter.

Moreover, merchandise export growth gathered pace in the same period, while industrial production continued to recover in November after having contracted in H1.

Market Trend

Serbian vehicles market in recent years is recovering after the huge fall reported in the 2009-2014 crisis. Light vehicles sales grew up from the 19.698 in the 2014 to 29.010 in the 2017. In 2018, the market kept growing, ending with 29.721 sales (+2.4%).

In 2019, the market signed the 5th consecutive year of gain. Indeed, according to data reported by the local Association of Car Manufacturers, the Full-year ended with sales at 34.197, surging 15.1% from the previous year.

At brand-wise, Skoda – which has gained over 3 points of share from 2018 – jumped on top of the ranking, overtaking the former leader Fiat. The Italian brand ended the year at 16% of share, followed by Volkswagen at 6.6%.