Car exports from Serbia have dropped by a third in the first three quarters of 2022 following the closure of a Fiat plant in Kragujevac, but car parts exports went up 77 percent, the Business and Finance reported on Dec. 7.
“Stopping the Fiat’s vehicle assembly line in Serbia was the decision that marked the year in the sector of motor vehicles and automotive components, but so was a plan to remodel the factory in Kragujevac for the purposes of electric vehicle production, expected to begin in 2024,” the monthly went on to say.
The situation affected the entire sector, and the production of motor vehicles, trailer and semi-trailers lost 0.6 percent in the first three quarters of the year compared to the same period in 2021, the Serbian Statistics Office reported. The results notwithstanding, experts suggest that the value of car exports might be the same as last year.
Fiat Serbia, despite poor business results, is still among the top ten exporters. According to the Ministry of Finance, it has ranked ninth, reporting exports worth EUR285.5 million in 2021. It’s clear though that the position will be much worse in end-year reports.