Autos Sector Poised For Recovery

Serbia's auto industry has experienced a slump in the wake of the global economic crisis. In line with other markets in Central and Eastern Europe, new car sales in Serbia fell sharply in H109. Some 17,819 new cars were sold in Serbia in the first six months of 2009, representing a decline of nearly 34% year-on-year (y-o-y). As in other markets in the region, vehicle sales in Serbia have been hit by a slowdown in consumer spending amid the global economic downturn. Although Serbia is struggling to emerge from its worst recession in 10 years, it has fared better than neighbours such as Hungary, where H109 new car sales tanked almost 52% y-o-y.

To read the full article, please choose one of the following options: