Slovakia 2024. Car Market Up In Double-Digit In January (+18.8%)

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Slovakia Auto Sales grows in double-digit starting 2024. Total sales in January reach 7,935 (18.8%). Market leader Skoda increases its dominance holding 25.4% of the market (+61.7%).

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 7,935 new sales in January (+18.8%).

Looking at cumulative data up to January 2024 brand-wise, Skoda maintains leadership with 2,017 sales (+61.7%), followed by Toyota at 918 (+10.5%) and Kia at 829 registrations (+15.0%).

Hyundai in 4th with 732 sales (+8.3%), in front of Volkswagen at 55 (+9.0%), Dacia at 446 (+21.9%) and Mercedes with 346 new registrations (+27.7%).

Suzuki gains 3 spots ranking in 8th position with 243 sales (+36.5%), followed by BMW at 212 (-9.0%) and Renault in 10th with 178 sales (-6.3%).

Looking at specific models the Skoda Octavia so far sold the most cars (+346.6%) making up 10 places in the leaderboard, followed by the Hyundai i30 up 47.6% in year-on-year sales.

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.

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