Eastern Europe: Passenger Car Market 2024

Passenger Car Market Size in Eastern Europe

The East European passenger car market surged to $X in 2023, growing by X% against the previous year. In general, consumption, however, saw a mild setback. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Passenger Car Production in Eastern Europe

In value terms, passenger car production reached $X in 2023 estimated in export price. The total production indicated perceptible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

Passenger Car Exports

Exports in Eastern Europe

In 2023, shipments abroad of passenger cars increased by X% to X units, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, passenger car exports soared to $X in 2023. Total exports indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2023, the Czech Republic (X units) and Slovakia (X units) represented the main exporters of passenger cars in Eastern Europe, together recording near X% of total exports. Poland (X units) held the next position in the ranking, followed by Hungary (X units) and Romania (X units). All these countries together held approx. X% share of total exports. Lithuania (X units) took a relatively small share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Hungary (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Slovakia ($X), the Czech Republic ($X) and Hungary ($X) were the countries with the highest levels of exports in 2023, together accounting for X% of total exports.

Slovakia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Europe stood at $X per unit in 2023, picking up by X% against the previous year. Export price indicated moderate growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, passenger car export price increased by X% against 2019 indices. The growth pace was the most rapid in 2017 an increase of X%. The level of export peaked in 2023 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Slovakia ($X per unit), while Poland ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Lithuania (X%), while the other leaders experienced more modest paces of growth.

Passenger Car Imports

Imports in Eastern Europe

In 2023, imports of passenger cars in Eastern Europe skyrocketed to X units, with an increase of X% on 2022 figures. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, passenger car imports soared to $X in 2023. Total imports indicated pronounced growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia (X units) and Poland (X units) represented roughly X% of total imports in 2023. The Czech Republic (X units) ranks next in terms of the total imports with a X% share, followed by Ukraine (X%), Slovakia (X%), Romania (X%) and Hungary (X%).

From 2012 to 2023, the biggest increases were recorded for Slovakia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car importing markets in Eastern Europe were Poland ($X), Russia ($X) and the Czech Republic ($X), together accounting for X% of total imports. Romania, Hungary, Ukraine and Slovakia lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Romania, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Eastern Europe amounted to $X per unit, increasing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Poland ($X per unit), while Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Poland (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform