Czech Republic Vehicles market in 2015 hit new all time record ranking as World’s 36th. The market is fueled up by one of the strongest economy in Europe with a quota of sales hiding grey market to neighboring countries.
new cars market is the fastest growing in the European Community and in September kept the amazing speed with sales up 14.5%. A new record year will be hit in the 2015.
Economic Outlook
The Czech economy’s performance was extraordinarily strong in 2015. Full year GDP growth likely peaked at a post-recession high of 4.3%, which is one of the fastest rates of expansion in the European Union. Private consumption and fixed investment growth likely accelerated significantly, benefiting from expansionary monetary policy, subdued oil prices, low inflation and strong absorption of EU funds.
A significant fiscal stimulus also added to growth. Other indicators corroborate that the economy ended the year on high note: in November, industrial production grew solidly and both the manufacturing PMI and economic sentiment continued to rise in December.
Market Outlook
According to data released by the S.D.A., the Czech Republic Car Importers Association, during the fourth quarter of the 2015 new cars sales had improved 17% further pushing annual volume up at new record, the second in a series. Indeed, full year cars sales had been 230.857, up 20.0% from the record scored last year.
It is the first time that the market outpace the 200.000 annual units level thanks to a strong economy, high consumer’s demand but also low price compared with neighboring countries and a certain quota of vehicles exported with zero kilometers, apparently as “used” but in reality totally new.
Light commercial vehicles sales in the year had been at record 20.289 units (+19.1% to be added at the +34.1% scored in the previous year. Now, the full light vehicles sales had been 251.146 (++20.7%) ranking as World’s 36th market, up 2 spots from the previous year.
Skoda has sold a record 73.560 units (+26.%) with 32.3% of market share. In second place Volkswagen with 23.620 sales (+29.2%) followed by Hyundai with 19.315 (+2.0%) and Ford with 14.234 (+13.2%).
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 models.
