Croatia: Passenger Car Market 2024

Passenger Car Market Size in Croatia

In 2021, the Croatian passenger car market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption posted a prominent expansion. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Passenger Car Production in Croatia

In value terms, passenger car production surged to $X in 2021 estimated in export price. In general, production saw prominent growth. The growth pace was the most rapid in 2019 when the production volume increased by 62%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Passenger Car Exports

Exports from Croatia

In 2021, the amount of passenger cars exported from Croatia shrank to X units, with a decrease of -9.7% against 2020 figures. In general, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 748% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, passenger car exports dropped markedly to $X in 2021. Over the period under review, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2014 when exports increased by 544% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Bosnia and Herzegovina (X units), Germany (X units) and Slovenia (X units) were the main destinations of passenger car exports from Croatia, together comprising 98% of total exports. These countries were followed by Belgium, Hungary, Italy, Kosovo, Lithuania, France, Montenegro and the Netherlands, which together accounted for a further 64%.

From 2012 to 2021, the biggest increases were recorded for Lithuania (with a CAGR of +124.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for passenger cars exports from Croatia, comprising 38% of total exports. The second position in the ranking was held by Bosnia and Herzegovina ($X), with an 18% share of total exports. It was followed by Belgium, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Germany amounted to +82.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+78.5% per year) and Belgium (+107.6% per year).

Export Prices by Country

In 2021, the average passenger car export price amounted to $X per unit, reducing by -8.8% against the previous year. In general, export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, passenger car export price decreased by -22.8% against 2018 indices. The pace of growth appeared the most rapid in 2015 an increase of 61%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the average price for exports to Kosovo ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+8.6%), while the prices for the other major destinations experienced mixed trend patterns.

Passenger Car Imports

Imports into Croatia

Passenger car imports into Croatia expanded markedly to X units in 2021, increasing by 15% compared with the previous year's figure. In general, imports showed buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 44%. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, passenger car imports soared to $X in 2021. Overall, imports showed resilient growth. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X units), Slovenia (X units) and France (X units) were the main suppliers of passenger car imports to Croatia.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of +68.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car suppliers to Croatia were Germany ($X), Slovenia ($X) and Hungary ($X), together accounting for 61% of total imports.

Slovenia, with a CAGR of +61.5%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average passenger car import price stood at $X per unit in 2021, picking up by 18% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.1%. The most prominent rate of growth was recorded in 2017 when the average import price increased by 24% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (-2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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