Industry revenue of »sale of cars and light motor vehicles« in Croatia 2011-2023

In what is a trend consistent to most countries in Europe, such as Hungary, Poland and Romania, the Croatian market for cars and light motor vehicles is expected to witness steady but modest growth over the short to medium term. Revenues have been estimated to increase from 2.4 billion U.S dollars in 2017 to 2.8 billion U.S dollars in 2023, at a CAGR of 2.76%. In contrast however, the overall manufacturing of motor vehicles in the country is expected to witness exponential growth over 2017-2023, pointing towards advanced manufacturing capabilities in other automobile sub-segments.

Rimac changing Croatia’s image with its electric super car

Traditionally, Croatia hasn’t had a globally renowned auto manufacturing industry but EV producer Rimac is looking to change all that with an electric super car that has a top speed of 250 mph. The brand’s popularity can be gauged from all the investments it has received over the last few years including those from Porsche and Hyundai. Rimac also stood at 5th place in terms of largest 2018 M& A deals in the country with a total value of almost 19 million U.S dollars.

Industry revenue of »sale of cars and light motor vehicles« in Croatia from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Croatia. The industry “sale of cars and light motor vehicles“ has the code “G4511“.

Details on the methodology can be found here.

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