Slovakia Auto Sales grows in double-digit starting 2024. Total sales in February reach 7,702 (+16.3%). Market leader Skoda increases its dominance holding 23.5% of the market (+49.6%).
Market Trend and Outlook
The Slovak economy is highly dependent on its industrial and automotive sectors, and is set for a moderate recovery in 2024 as external demand recovers.
Slovakian auto market exponentially growing in comparison to last year, with 7,702 new sales in February (+16.3%). YTD sales up to 15,637 units (+17.5%).
Looking at cumulative data up to February 2024 brand-wise, Skoda maintains leadership with 3,679 sales (+49.6%), followed by Toyota at 1,716 (-3.0%) and Kia at 1,576 registrations (+8.7%).
Hyundai in 4th with 1,567 sales (+15.9%), in front of Volkswagen at 1,210 (+37.5%), Dacia at 806 (+18.9%) and Mercedes with 550 new registrations (+2.2%).
Suzuki gains 3 spots ranking in 8th position with 505 sales (+37.6%), followed by Peugeot -down 1 spot- at 445 (-13.6%) and BMW -down 1 spot- in 10th with 431 sales (+1.7%).
Looking at specific models the Skoda Octavia so far sold the most cars (+162.2%) making up 6 places in the leaderboard, followed by the Hyundai i30 up 69.1% in year-on-year sales, gaining 3 positions.
Medium-Term Market Trend
In recent years the Slovakian car market has had many ups and downs. At the start of the decade demand for car passengers fluctuated between 71k and 75k. Then in 2014 started a 6 year uptrend that would lead total car sales up to the current all-time high in 2019 at 109,978.
In 2020 the pandemic caused many markets Europe to collapse and the Slovakian one was no different, falling 25.4% back down to 82,014 sales.
The following year demand bounced back, inverting the trend and bringing sales to 84,084 (+2.5%). Despite 2022 rising another 4.2%, these past two years haven’t been enough to offset the major fall in 2020. 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.
In 2023 the auto market exponentially growed in comparison to last year, with 88,003 total sales (+11.6%).
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and 10 Models.
