Romania could record the largest decrease in sales of new passenger cars and light commercial vehicle (LCV) in Central Europe this year, of 24.3% compared to 2019, but will have a rapid recovery exceeding the pre-COVID crisis volume threshold until 2023, according to Autofacts report made by the PwC network at European level, based on IHS Markit data, qouted by Business-Review.eu.
Thus, estimates for the new cars and light commercial vehicles markets in Romania show a decrease from 181,000 units in 2019 to 137,000 units this year and, subsequently, an increase to 223,000 units in 2023. In Central Europe, Romania will have a decline comparable to Poland, which will also record a decrease of 24.3%. But Poland is estimated to have a slower recovery, and will remain below the level of 2019 in 2023.
Thus, the smallest decrease would be registered by Hungary, of 19.6%, followed by Slovakia with 21.4% and the Czech Republic with 21.6%. Of these markets, only Slovakia will recover this year’s losses, and in 2023 car sales will exceed the level recorded in 2019.
Overall, the market in Central Europe will decrease by 23% this year, reaching the level recorded in 2016, of 900,000 vehicles. In comparison, estimates for Western European markets show a contraction of 26%.
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