CROATIA: In May, Croatia sees double-digit growth in car sales

25 June 2024 — Marina MAGNAVAL
While car sales in the EU fell in May, Croatia again recorded double-digit growth, according to data from the ACEA manufacturer association, writes.

In total 911,697 new cars were registered in the EU in May, which is 3% less than in the same month last year, ACEA said. According to ACEA, this trend began with a 3.3% drop in sales in December, followed by a strong recovery in January (+12.1%). In February, sales sharply decreased again, by 10.1% and then fell in March, by 5.2%, their drop in April was 13.1%.

May's decline reflects poor results in almost all major markets: the demand for cars fell the most in Italy (-6.6%), Germany and France follow (-4.3% and -2.9%, respectively). Growth was recorded only in Spain, by 3.4%, ACEA data show.

According to ACEA, 8,523 new cars were registered in Croatia in May, which is 18.95% more than in May 2023. And in April the country saw an increase of 14.03%.

Speaking about electric car sales, the EU market shrank by 12% in May. ACEA highlighted Belgium and France in its report. The largest European market, Germany, decreased by 36.6%. At the same time, Croatia bounced back with doubled sales of electric cars.

In the first five months of this year, the European new car market grew by 4.6% y-o-y, with 4.6 million vehicles sold. It is noted that this growth is significantly weaker than in the first five months of 2023, when sales jumped by 18.5%. Spain recorded the highest growth in the first five months of this year (+6.8%), Germany and France followed, while Italy grew the least (+3.4%).

According to ACEA, 31,219 new cars were registered in Croatia in the first five months of this year, it indicates a 15.1% increase y-o-y.

The European electric car market grew by 2.0%, with 556,276 new vehicles sold. Gasoline cars maintained their leading position with a market share of 35.5%, and hybrid electric cars rank second with a market share of 29.9%.

On the other hand, in Croatia sales of electric cars in the first five months recorded a 39.4% drop y-o-y, the source said.