New Vehicle Market in Serbia Shows Significant Growth in the First Six Months of 2024
Sales of new passenger cars (M1 category) and light commercial vehicles (N1 category) in Serbia increased by 21.18% in the first six months of this year compared to the same period in 2023.
According to data on the number of newly registered vehicles in Serbia, obtained by the Serbian Association of Vehicle and Parts Importers from the Ministry of Internal Affairs of Serbia and their partner Cube Team, 18,256 vehicles (both passenger and light commercial) were sold from January 1st to June 30th. This is 3,191 more vehicles than in 2023, when 15,065 vehicles were sold in the same period.
The highest number of vehicles sold in a single month this year was in April, with 4,351 vehicles sold, while the lowest was in January, with 1,995 vehicles sold.
Considering the total number of passenger and light commercial vehicles sold, Škoda remains the top-selling brand with 3,573 vehicles sold. Toyota ranks second with 1,667 vehicles sold in the first six months of 2024. Volkswagen comes in third with 1,333 vehicles sold, followed by Citroen with 1,170 and Renault with 1,119 vehicles.
Sales of passenger vehicles in the first six months of this year reached 15,158 units, an increase of 2,474 cars (19.69%) compared to the first half of 2023, when 12,664 passenger vehicles were sold.
April saw the highest sales with 3,748 cars sold, while January had the lowest with 1,519 cars sold.
In this category, Škoda was the most purchased brand, with 3,414 passenger vehicles delivered and registered. Toyota sold 1,525 cars, Volkswagen 943, Renault 907, Hyundai 844, KIA 822, BMW 798, and Dacia 786.
Sales of light commercial vehicles (LCVs) showed significant growth in the first six months, with 3,098 LCVs registered, an increase of 697 compared to the same period last year when 2,401 vehicles were sold, representing a 29.03% increase.
The top brand for LCV sales in the first six months of this year was Citroen with 797 vehicles sold. FIAT followed with 483 vehicles sold, Volkswagen with 390, Opel with 258, and Renault with 212 vehicles sold.
Sales of two-wheelers also continue to grow at an incredible pace in Serbia. In the past six months, 3,222 motorcycles were sold, a 52.12% increase compared to the same period last year, when 2,118 motorcycles were sold.
Vehicle Sales Overview by Fuel Type
Regarding the type of fuel preferred by buyers for passenger vehicles, gasoline engines were the clear first choice with 48.33%. Hybrid engines (gasoline-electric) were the second choice with 21.50% (it's noteworthy that the number of vehicles sold with diesel-electric hybrid engines is also increasing, with their market share reaching 7.68%). Diesel engines were the third choice with 19.53%. Passenger vehicles with factory-installed gas systems, combining LPG and gasoline engines, accounted for 2.10% of the market.
A total of 116 passenger vehicles with electric propulsion were sold.
For light commercial vehicles, diesel engines remain the most popular among buyers in Serbia, accounting for 57.59%, although this represents a 2.03% decrease from last year. Gasoline engines in LCVs are steadily increasing in market share, currently at 19.82%, with an annual growth of 92.48%, indicating a shift in customer preferences.
The gasoline-LPG combination remains very popular among LCV buyers, accounting for 15.95% of the market. Hybrid gasoline-LPG propulsion in the LCV market in Serbia occupies 3.10% in the first six months.
A total of 102 light commercial vehicles with electric propulsion were sold.
Data from Cube Team, based on the number of registered vehicles, also show that, in addition to the aforementioned LCVs, passenger vehicles, and motorcycles, 210 buses, 2 light quadricycles, 915 mopeds, 2 motor cultivators, 2,957 trailers, 144 tractor trailers, 228 work machines, 819 freight vehicles, 999 heavy quadricycles, 118 heavy tricycles, and 779 tractors were sold.
A total of 28,651 vehicles were sold in the first six months of this year.
SUV Vehicles Most Popular
SUV vehicles (small, medium, and large) are by far the most popular when comparing vehicles by class in the first six months of 2024.
Medium SUVs account for 23.12% of the market, small SUVs 12.37%, and large SUVs 6.63%. Overall, SUVs accounted for 42.12% of the market in Serbia during this period.
Class C vehicles (C1+C2) have a market share of 19.53%, Class B vehicles 9.75%, Class D vehicles (D1+D2) 3.95%, and Class A vehicles 2.45%.
Premium Segment at a Glance
The best-selling passenger cars in the so-called premium segment were BMW with 798 vehicles sold during this period, Mercedes-Benz with 478, Audi with 470, Volvo with 192, Land Rover with 96, Porsche with 72, Maserati with 15, Lexus with 12, Jaguar with 9, Lamborghini with 5, Ferrari with 3, Bentley with 2, and Rolls-Royce with 1 vehicle.
Source: Ministry of Internal Affairs of the Republic of Serbia, Cube TeamPhoto: Freepik