Slovakia 2019. Vehicles market grew for the 6th year in a row

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Slovakia Auto sales
Skoda-Octavia_RS_245-2018

Slovakia Auto sales in 2019 registered the sixth consecutive year of growth. Indeed, the Full-year ended with registrations at 101.063, up 3% from the previous year. The brand leader Skoda ended at 20% of share, while impressive performances were scored by Hyundai and Kia.

Economic Environment

Slovakian economy growth slowed to a near six-year low in the third quarter, on the heels of the second quarter’s moderation. Both public expenditure and private consumption decelerated in Q3, while exports shriveled again amid gloomy dynamics in the EU. Fixed investment, however, jumped, thus cushioning the overall moderation. Heading into the fourth quarter, available data hints at lingering economic weakness.

Industrial production contracted for the third straight month in October as weak external demand continued to hamper the automotive sector, while sentiment in the industrial sector remained downbeat in October–November. Moreover, retail sales shrank and wage growth slowed sharply in October, while consumer confidence fell to an over three-year low in November, suggesting faltering household spending in the final months of the year.

Market Trend

Slovakian vehicles market in recent years has been one of the most dynamic in Europe, while the country become a manufacturing hub for the entire continent, with the highest ratio of produced vehicles per people in the continent. The domestic new vehicles sales scored an impressive series of all time record, starting from  the 2014.

Indeed, in the 2014-2018 period the market grew up without break while the speed declined year after year, ending with a 2018 record of 98.079 sales, up a mere 2.1% from the previous year.

In 2019, according to data released by the Slovakia Associations of Car Manufacturers, the market has marginally improved, signing the 6th consecutive year of growth. Indeed, the Full-year ended with registrations at 101.063, up 3% from the previous year.

Brand-wise, in the last decade, the market leader Skoda has steadily declined, moving from 31.9% of share in 2010 to 20% in 2019. Behind, Volkswagen kept a stable trend, ending at 8.8% in 2019, while Hyundai surged at 8.7%, gaining almost 5 points of share since 2010.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models

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