Eastern Europe: Passenger Car Market 2024

Passenger Car Market Size in Eastern Europe

The East European passenger car market surged to $X in 2021, picking up by 17% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Passenger Car Production in Eastern Europe

In value terms, passenger car production contracted remarkably to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 19%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Passenger Car Exports

Exports in Eastern Europe

In 2021, shipments abroad of passenger cars decreased by -1.9% to X units, falling for the second year in a row after two years of growth. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 13%. The volume of export peaked at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, passenger car exports expanded rapidly to $X in 2021. Total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 15%. The level of export peaked in 2021 and is likely to continue growth in years to come.

Exports by Country

The Czech Republic (X units) and Slovakia (X units) represented roughly 57% of total exports in 2021. Poland (X units) ranks next in terms of the total exports with a 13% share, followed by Hungary (12%) and Romania (11%). The following exporters - Russia (X units) and Lithuania (X units) - each reached a 4.4% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +4.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car supplying countries in Eastern Europe were Slovakia ($X), the Czech Republic ($X) and Hungary ($X), together comprising 80% of total exports.

Hungary, with a CAGR of +8.0%, saw the highest growth rate of the value of exports, in terms of 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

In 2021, the export price in Eastern Europe amounted to $X per unit, increasing by 10% against the previous year. Over the last nine years, it increased at an average annual rate of +4.7%. The most prominent rate of growth was recorded in 2017 when the export price increased by 19%. Over the period under review, the export prices reached the peak figure in 2021 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 2021, amid the top suppliers, the country with the highest price was Slovakia ($X per unit), while Lithuania ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+8.4%), while the other leaders experienced more modest paces of growth.

Passenger Car Imports

Imports in Eastern Europe

In 2021, approx. X units of passenger cars were imported in Eastern Europe; with an increase of 21% against 2020 figures. Over the period under review, imports continue to indicate a relatively flat trend pattern. The volume of import peaked at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, passenger car imports surged to $X in 2021. Total imports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -4.7% against 2019 indices. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Ukraine (X units) and Poland (X units) were the largest importers of passenger cars in 2021, finishing at approx. 26% and 22% of total imports, respectively. It was distantly followed by Russia (X units), the Czech Republic (X units), Hungary (X units), Romania (X units) and Lithuania (X units), together generating a 39% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Ukraine (with a CAGR of +13.8%), while imports 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 comprising 54% of total imports. These countries were followed by Ukraine, Hungary, Romania and Lithuania, which together accounted for a further 30%.

Among the main importing countries, Romania, with a CAGR of +11.0%, 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 2021, the import price in Eastern Europe amounted to $X per unit, surging by 3.2% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by 15%. As a result, import price reached the peak level of $X per unit. From 2018 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Russia ($X per unit), while Ukraine ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lithuania (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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