Industry revenue of »manufacture of motor vehicles« in Romania 2011-2023

Even though the automotive sector is struggling in most parts of Europe and indeed the world, Romania is among the few witnessing a healthy market. In fact, revenues generated from the manufacture of motor vehicles in the country is expected to increase from an already high 7.1 billion U.S. dollars in 2018 to 8.4 billion U.S. dollars in 2023. New passenger car sales in the country have been on the upswing since 2013 with the units increasing from 57,710 to 161,562 in 2019. Exports is another lever of growth, with vehicles and related components being the second largest exported category after electrical machinery and equipment. Germany, Italy, France and Hungary are the country’s major trading partners.

One of the factors expected to exert the strongest influence on Romania’s car industry over the short to medium term is not Brexit or even the tariff restrictions in relation to the U.S. but the EU’s carbon leverage restrictions. Therefore, the country’s use of electric vehicles is on the rise with the number registered in the first half of 2019 being 50% higher than those registered in all of 2018.

Industry revenue of »manufacture of motor vehicles« in Romania 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 Romania. The industry “manufacture of motor vehicles“ has the code “C291“.

Details on the methodology can be found here.

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Statistics on "Economic Outlook Romania"

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