New passenger car registrations in Romania increased by 26% in the first ten months of 2014 compared to the same period of last year, to over 58,900 units, according to the European Automobile Manufacturers Association (ACEA).

The Romanian market was the third fastest growing market in the European Union (EU), after Portugal, where new car sales increased by almost 35%, and Ireland, which was up by 30%.

Overall, the new passenger car sales in the EU were up by 6%in the first ten months, to over 10.64 million units.

In October, Romania had the second highest growth in new passenger car sales, of 31%, after Cyprus, where the market increased by 35%, according to ACEA statistics.

Statistics released by the Romanian Car Manufacturers and Importers Association (APIA) are slightly different, showing that new passenger car sales in October were up just 5%, to 7,443 units. For the first nine months, APIA’s data indicates a 24% increase, to 68,820 units.

The significant differences may come from applying different methodologies. The ACEA takes its data from the Romanian Licenses and Registrations Office, which show the number of new cars registered, while the APIA gets its data from its members, reflecting the number of new car sales made by these in a specific month.

According to local APIA, the total number of new vehicles sold in the first ten months of this year, which includes both passenger cars and commercial vehicles, increased by 25% compared to the same period of last year, to more than 83,000 units. October was the 16th consecutive month in which new vehicle sales increased compared to the same month of the previous year.

APIA estimates that total new vehicle sales in Romania will reach about 97,000 units this year, of which 80,000 are new passenger cars.

However, the association shows that the turnover growth for the vehicle sector, in the first nine months of this year, as reported by the National Statistics Institute (INS) was only 4.9%, five times lower than the volume increase, which was 25%.

Andrei Chirileasa, andrei@romania-insider.com