BELARUS: a growing trend in new car sales on the market

26 March 2024 — Marina MAGNAVAL
For the first time in the last four years, there has been a trend towards increasing sales of new cars on the Belarusian market. Thus, in 2023, car dealers sold 25,408 cars, which is 47.5% more y-o-y, Insurance in Belarus magazine wrote.

If we consider a 10-year period, the results of the automotive industry at the end of last year are comparable to sales in 2014–2015.

The ratio between passenger cars and light commercial vehicles remains at approximately the same level: in 2023 it was 85.6% to 14.4%, in 2022 – 86.1% to 13.9%, respectively. The number of passenger cars sold increased by 46.6%; in the light commercial vehicle segment, the increase was 52.5% compared to 2022.

Among insurance companies in 2023 in voluntary insurance of land vehicles of individuals, Belgosstrakh is the leader (market share 43%), with Belrosstrakh taking second place by a wide margin (11%). In voluntary insurance of land vehicles of legal entities, Belgosstrakh is also the leader (32.6% share), while Promtransinvest ranks second (16.3%).