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

Showing strong resilience in the aftermath of the global economic crisis, the Estonian market for cars and light motor vehicles is expected to witness a strong increase from 1.7 billion U.S dollars in 2013 to 3.1 billion a decade later in 2023. Medium-sized cars are the largest selling category in the country, followed by large cars and then small cars.

Suppressed electric vehicles sales due to a small consumer base

With a population of only 1.3 million in 2018, Estonia’s market for all types of consumer products including electric cars is small. However, in a recent boost to the industry, the government, which had previously withdrawn support for buyers of electric vehicles is set to reestablish it for business users. The total monetary benefit is expected to be around 1.5 million U.S. dollars or between 4,400 dollars and 6,600 dollars per unit.

Rise in new passenger car registrations

According to data released by the European Commission, the number of new passenger car registrations in Estonia increased consistently over the period 2015-2017. The most popular segments in these cars are small SUVs and medium cars.

Industry revenue of »sale of cars and light motor vehicles« in Estonia 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 Estonia. 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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