Bad sign for Romania. The car market collapsed by 25%. We risk reaching the level of 2009-2010

The evolution of the car market is a barometer for the health of a country’s economy. And, unfortunately, in Romania, the figures show that the new car market is almost in free fall in 2024, and the second-hand car market is also decreasing, which shows that Romanians have no more money and the fiscal-budgetary measures are not no help On the contrary.

Also read: Sales of electric cars are going badly. Builders return to gasoline and do promotions

Bad sign for Romania. The car market collapsed by 25%. We risk reaching the level of 2009-2010

The Romanian new car market started 2024 timidly, with timid growth, mainly based on the inertia of last year’s orders, of 4.15% compared to January 2023reaching a volume of 12,733 units.

As for the second-hand cars registered for the first time in Romania, their volume reached 27,176 units in January 2024 (+16.8% compared to January 2023).

Then, in February 2024, the inertia of orders from 2023 decreasing, the registrations of new cars in Romania started to take a downward slope. They decreased by 8.92% compared to February 2023, reaching a volume of 11,339 units.

Read also: Head of Renault and ACEA, tough letter to the EU: The car industry, at risk due to electrification

In the first two months of 2024, new car registrations reached the value of 24,072 units, down 2.6% compared to the similar period in 2023, respectively 24,715 units.

Regarding the second-hand cars registered for the first time in Romania, their volume reached 29,462 units in February 2024 (16.5% compared to February 2023).

In March 2024, however, the Romanian new car market collapsed. New car registrations fell by 25.26% compared to March 2023, reaching a volume of 9,156 units.

In total, in the first three months of 2024, new car registrations reached the value of 33,228 units, down 10.11% compared to the similar period in 2023, respectively 36,966 units.

If the downward trend taken by the car market of new cars in Romania is maintained, at the end of the year, when the line will be drawn on 2024, the figures may reach the level of those of 2009, for example, when they were registered just over 96,000 new cars.

And if the decline sharpens, as it did in March 2024, it can get even worse. In 2010, amid the economic crisis triggered in 2008, the car market in Romania dropped to 70,000 new cars.

Read also: Rabla and Rabla Plus 2024. What premiums and ecobonuses the state offers

It remains to be seen what effect the Rabla and Rabla Plus 2024 programs, which started on March 19, 2024, will have on the market, but with premiums for electrified vehicles halved by the Government, the results are unlikely to be “Wow”.

Regarding second-hand cars registered for the first time in Romania, their volume reached 27,499 units in March 2024, a decrease of 1.9% compared to March 2023, according to ACAROM data.

In the first three months of 2024, the registrations of second-hand cars registered for the first time in Romania reached the value of 84,135 units, an increase of 9.88% compared to the similar period of 2023, respectively 76,577 units.

The best year for the new car market in Romania was 2007, with 315,000 units, and the worst, 2013, with 58,000 units.

The top brand of new cars preferred by Romanians in the first 3 months of 2024

DACIA = 9,692 units
TOYOTA = 2,615 units
SKODA = 2,443 units
HYUNDAI = 1,989 units
VOLKSWAGEN = 1,966 units
RENAULT = 1,897 units
MERCEDES = 1,400 units
BMW = 1,307 units
FORD = 1,255 units
SUZUKI = 1,039 units