Serbia’s vehicle market thrives: Surge in sales of cars and light commercial vehicles in 2024

In the first half of 2024, Serbia has seen a notable increase in the sales of new passenger cars (M1 category) and light commercial vehicles (N1 category). According to the latest research, there was a 21.18 percent rise compared to the same period in 2023. From January 1st to June 30th, 18,256 vehicles were sold, marking an increase of 3,191 units from 2023’s 15,065 vehicles, as reported by the Serbian Association of Vehicle Importers and Parts.

Monthly sales data highlights April as the peak month and January as the lowest, based on figures obtained from the Ministry of Internal Affairs and Cube Team.

Among passenger vehicles, Škoda led with 3,414 units sold, followed by Toyota (1,525), Volkswagen (943), Renault (907), Hyundai (844), Kia (822), BMW (798), and Dacia (786).

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For light commercial vehicles in the first half of 2024, Citroen topped the list with 797 units, followed by Fiat (483), Volkswagen (390), Opel (258), and Renault (212).

The motorcycle market also showed significant growth in Serbia, with sales reaching 3,222 units, a 52.12 percent increase compared to the previous year.

“SUV vehicles (small, medium, and large) have dominated vehicle sales categories in the first six months of 2024,” according to the association. Class C vehicles (C1+C2) held a market share of 19.53 percent, followed by Class B at 9.75 percent, Class D (D1+D2) at 3.95 percent, and Class A at 2.45 percent.

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In the premium segment, BMW led with 798 vehicles sold, followed by Mercedes-Benz (478), Audi (470), Volvo (192), Land Rover (96), Porsche (72), Maserati (15), Lexus (12), Jaguar (9), Lamborghini (5), Ferrari (3), Bentley (2), and Rolls-Royce (1).

Petrol engines remained the top choice for passenger vehicles at 48.33 percent, followed by hybrid petrol-electric vehicles at 21.50 percent. The market also saw a rise in hybrid diesel-electric vehicles at 7.68 percent. Diesel vehicles held a 19.53 percent market share, while gas-powered vehicles accounted for 2.10 percent.

Fully electric vehicles made up 116 units sold. Looking ahead, Serbia’s electric vehicle market could see changes with the introduction of Stellantis’ “Fiat Grande Panda,” expected to be priced below €25,000 and manufactured in Kragujevac.