Romania: Passenger Car Market 2024

Passenger Car Market Size in Romania

In 2021, the Romanian passenger car market decreased by -6.6% to $X, falling for the second year in a row after two years of growth. In general, consumption recorded a pronounced curtailment. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Passenger Car Production in Romania

In value terms, passenger car production shrank rapidly to $X in 2021 estimated in export price. In general, production showed a dramatic contraction. The pace of growth was the most pronounced in 2018 with an increase of 40%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Passenger Car Exports

Exports from Romania

In 2021, shipments abroad of passenger cars decreased by -4.9% to X units, falling for the second consecutive year after three years of growth. The total export volume increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 32% 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 expanded to $X in 2021. Overall, total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.2% 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 when exports increased by 63%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the near future.

Exports by Country

France (X units), Italy (X units) and Germany (X units) were the main destinations of passenger car exports from Romania.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +1,422.0%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Italy ($X) and Germany ($X) appeared to be the largest markets for passenger car exported from Romania worldwide, with a combined 48% share of total exports. The Netherlands, Turkey, Spain, Poland, Belgium, Hungary, Ukraine and Australia lagged somewhat behind, together accounting for a further 35%.

Australia, with a CAGR of +605.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average passenger car export price amounted to $X per unit, picking up by 8.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2018 an increase of 23% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Australia ($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 Algeria (-2.5%), while the prices for the other major destinations experienced a decline.

Passenger Car Imports

Imports into Romania

In 2021, imports of passenger cars into Romania skyrocketed to X units, jumping by 22% on 2020 figures. Over the period under review, imports saw a strong increase. Imports peaked at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, passenger car imports soared to $X in 2021. Overall, imports continue to indicate a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X units) constituted the largest supplier of passenger car to Romania, accounting for a 68% share of total imports. Moreover, passenger car imports from Germany exceeded the figures recorded by the second-largest supplier, the Czech Republic (X units), twofold. The third position in this ranking was taken by Turkey (X units), with a 22% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +19.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+18.4% per year) and Turkey (+20.2% per year).

In value terms, Germany ($X) constituted the largest supplier of passenger cars to Romania, comprising 34% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with an 11% share of total imports. It was followed by Austria, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+10.4% per year) and Austria (+8.6% per year).

Import Prices by Country

The average passenger car import price stood at $X per unit in 2021, picking up by 9.6% against the previous year. Over the last nine years, it increased at an average annual rate of +3.0%. The pace of growth was the most pronounced in 2020 when the average import price increased by 16% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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