In 2023, Hungary led with 23 young high-growth enterprises in the motor vehicle retail sector, showing a notable year-on-year increase of 30.83%. Italy followed with 21 enterprises, experiencing a moderate increase of 2.02%. Romania and Slovakia each had 4 enterprises, but Slovakia saw a decline of 4.36% year-on-year. Czech Republic, Lithuania, and Portugal each had 3, with Lithuania facing the largest decrease at 17.81%. Latvia had the smallest presence with only 1 enterprise, remaining unchanged from the previous year.
Future trends to watch for include:
- The potential for Central and Eastern European countries to increase their number of high-growth enterprises, potentially closing the gap with Western Europe.
- The impact of technological advancements and government policies on fostering entrepreneurship and supporting growth in the motor vehicle retail sector.
- The role of economic conditions and consumer preferences in shaping the business landscape for gazelles.
- Continued monitoring of year-on-year trends and evaluating shifts in market dynamics is essential to understanding these enterprises' growth potential.
Top countries in Number of Young High Growth Enterprises (Gazelles) in Motor Vehicles Retail by Country
| # | 8 Countries | Units (Enterprises) | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Hungary | 23 | 2023 | +15% | +30.83% | View data |
| 2 | 2 Italy | 21 | 2023 | +5% | +2.02% | View data |
| 3 | 3 Romania | 4 | 2023 | +33.33% | +5.92% | View data |
| 4 | 4 Slovakia | 4 | 2023 | +33.33% | -4.36% | View data |
| 5 | 5 Czech Republic | 3 | 2023 | 0% | 0% | View data |
| 6 | 6 Lithuania | 3 | 2023 | 0% | -17.81% | View data |
| 7 | 7 Portugal | 3 | 2023 | +50% | -3.04% | View data |
| 8 | 8 Latvia | 1 | 2023 | 0% | 0% | View data |
