Czech Republic Autos Sales increase by double digits in 2024. February totaled 18,250 new sales (+9.0%). Market leader Skoda, 38.4% market share, continues to increase the gap (+26.4%).
Market Trend and Outlook
Spillovers from Russia’s war of aggression against Ukraine have derailed the Czech Republic’s post-pandemic recovery. Inflation is high and a tight macroeconomic policy stance is needed to restore price stability. The Czech labour market remains strong. The unemployment rate is low, and the employment rate and job security are high. However, severe labour and skills shortages are a major obstacle to growth.
The Czech economy remains highly energy intensive, still relies heavily on coal and records high greenhouse gas emissions. Major investments are needed to alter the energy mix and to improve energy efficiency. More ambitious environmental policies and an improved investment climate could help make growth more sustainable.
Despite these obstacles, the Czech automotive market has been increasing, continuing a 14-month positive string, with 18,250 new sales in February (+9.0%). YTD sales up to 38,526 units (+14.0%).
Looking at cumulative data up to February 2024, brand-wise Skoda ranked in 1st position with 14,812 new sales (+26.4%), posting a huge lead on the runner-up Hyundai, with only 3,711 registrations (+23.5%). Toyota in 3rd reported 3,123 sales (+6.4%) in front of Volkswagen with 2,535 sales (-6.6%) and Kia -up 1 spot- in 5th with 1,631 (+4.0%).
Dacia rose 1 spot into 6th with 1,325 sales (-13.3%), followed by BMW -up 2 spots- at 1,040 (+15.6%), Mercedes -down 3 spots- with 926 units sold (-42.7%), Peugeot -up 1 spot- at 811 sales (+3.3%) and Ford -down 2 spots- with 799 registrations (-15.8%).
Looking at specific models, Skoda held the top two best sellers: in 1st ranked the Skoda Octavia up 79.9% in year-on-year sales, followed by the Skoda Kamiq up 38.0% and 2 spots.
Medium-Term Market Trend
The Czech auto market from 2010 to 2017 presented an overall uptrend, reporting negative yearly variations only in 2012 (-3.5%) and 2013 (-9.0%). From 2014 to 2017 the market reached higher all time highs 4 years in a row, ending 2017 at a maximum of 266,753. In the following years the trend reversed, with 2018 resulting in a 2.4% loss and 2019 a -5.5% variation that would bring sales down to 246,033.
The arrival of the pandemic in 2020 caused the Czech car market to fall further, dropping 19% to 199,025 sales.
Following the Covid-19 crisis, in 2021 the market recovered 4%, just enough to get back above the 200k mark. The good news did’t last long, with sales falling 6.9% to 190,663 in 2022. A combination of factors are behind the current industry struggle: the disruption in the global supply chain caused by a lack of raw materials, in particular for the production of microchips and Governments push towards Evs, an expensive alternative for low income consumers. Despite, in 2023 the Czech Auto Market maintained steady growth, with total sales reaching 220,027 (+15.4%).
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 models.
