Business news from Ukraine

Since beginning of year, demand for new passenger cars in Ukraine has jumped by one and half times

1 March , 2024  

Initial registrations of new passenger cars in Ukraine in January-February increased by 1.5 times compared to the same period in 2023 to more than 10 thousand units, the Ukravtoprom Association reported on its Telegram channel.

According to the report, almost 5.7 thousand new passenger cars were sold in February, which is 51% more than in the same month in 2023 and 29.5% more than in January this year.

“The sales of new cars are only 11% behind the February figure of pre-war 2021,” Ukravtoprom states.

Toyota showed the best result of the month with a 70% increase by February 2023 – up to 858 cars. Renault was the second with 706 units (+64%), and Volkswagen was in third place with 472 units (+53%).

The TOP-5 of the month also included Skoda – 452 units (+38%) and Peugeot – 348 units (+364%).

Renault Duster crossover remains the bestseller in the Ukrainian new car market, with 603 registrations in February.

According to the Association, in February last year, a little more than 3.7 thousand new passenger cars were sold in Ukraine, which is 30% less than in February 2022.

For its part, the AUTO-Consulting information and analytical group in a post on its website calls the February car market’s performance “powerful”: almost 6 thousand passenger cars were sold, which is 58% more than in February last year and 24% more than in January 2014.

According to analysts, Toyota is in the lead, with 15% of all buyers preferring it (906 cars). Renault is in second place (664 cars), which managed to slightly overtake VW, which took second place in January and sold 548 cars in February.

Skoda finished fourth (503 cars), and Peugeot took fifth place (from 10th in January 2024), having doubled its sales compared to January (336 cars).

Analysts say that the premium segment is no longer growing as it was last year, and that BMW, Audi, and Lexus are leading the way.

“Electric cars confidently held 20% of the Ukrainian market in February, and it seems that this is now a new milestone that they will continue to hold for some time,” the report says.

In addition, AUTO-Consulting notes a drop in the interest of Ukrainian buyers in various Chinese unknown “trains”.

As reported with reference to the data of the Ukravtoprom Association, in 2023, the primary registrations of new passenger cars in Ukraine increased by 60.6% compared to 2022 – to almost 61 thousand units, according to AUTO-Consulting, sales increased by 62.4%, exceeding 65 thousand units.