The sales growth of new vehicles in Serbia during the first quarter of 2024.

The market for new vehicles in Serbia experienced growth in the first three months of 2024, according to data on first registrations (source: Serbian Ministry of Internal Affairs and Cube team). The sales of passenger and light commercial vehicles increased by 20,29% compared to the same period last year. A total of 7,493 of these vehicles were sold in the first three months of 2024 (January 1,995; February 2,200; March 3,298), compared to 6,229 vehicles sold in the first quarter of 2023, representing an increase of 1,264 vehicles.

In this period, 955 more passenger vehicles were sold compared to the same period in 2023. In the first three months of 2024, 5,965 passenger vehicles were sold, representing a growth of 19.06% (compared to 5,010 passenger vehicles sold in the first three months of 2023). Sales of light commercial vehicles (LCVs) also showed growth in this quarter. In 2024, 1,528 vehicles were sold, compared to 1,219 newly registered vehicles in the same period in 2023 (+309), representing a growth of 25.35%.

The best-selling brand for passenger vehicles is Škoda with 1,621 vehicles sold in the first three months of this year, followed by Toyota with 568, Volkswagen with 362, Hyundai with 359, and Dacia with 349. For light commercial vehicles, Citroen took the top spot in sales with 351 newly registered vehicles in the first quarter of this year, followed by Fiat with 270, Volkswagen with 187, Opel with 143, and Toyota with 95. Luxury vehicles are still in high demand, with 291 BMWs sold in the first three months of 2024, followed by 187 Mercedes-Benz vehicles, 133 Audis, 35 Porsches, as well as 2 Ferraris, 2 Lamborghinis, 1 Bentley, and 2 Teslas.

Looking at vehicle sales by type of propulsion, gasoline-powered vehicles still dominate among passenger vehicles. In the first three months of this year, 2,952 gasoline-powered vehicles were sold, accounting for a market share of 49.4% and representing a 7.7% increase in market share compared to the first quarter of 2023. Sales of vehicles powered by gasoline-electricity (hybrids, plug-in hybrids) reached 1,230, accounting for a market share of 20.62%. This marks a strong increase from the same period last year when 690 of these vehicles were delivered, representing a 78.26% growth in market share. There were 1,151 newly registered diesel vehicles in the first three months of this year, accounting for a 19.30% market share. This is a 21.93% increase in market share compared to the first three months of last year. Additionally, 439 vehicles powered by diesel and electricity were sold, accounting for a 7.36% market share. In the first quarter of 2023, 393 diesel-electric vehicles were sold, representing an 11.70% increase in market share.

Among light commercial vehicles, diesel vehicles were the most common type registered for the first time in this quarter, with 863 vehicles. This represents a market share of 56.48%, although it is declining compared to the market share of the first quarter of 2023 at 9.92% (958 vehicles). Gasoline-powered LCVs accounted for 17.41% of the market with 266 units sold. Last year in the same period, 139 LCVs with gasoline propulsion were sold, indicating a 91.37% increase in market share in this quarter. Gasoline-gas propulsion in this type of vehicle reached 261 units, capturing 17.08% of the market. Compared to last year, there was a 203.49% increase in market share as only 86 vehicles with this propulsion were sold in the first quarter of 2023. LCVs powered solely by electricity with 85 units delivered have a 5.56% market share. Last year during this period, no vehicles with this propulsion were sold in the first three months. Light commercial vehicles with gasoline-electric propulsion accounted for 3.34% of the market with 51 units sold. Last year in the first quarter, only 3 vehicles with this propulsion were sold (representing a 1,600% market growth). Five vehicles with diesel-electric propulsion were sold last year in the first quarter, but only one this year.