Slovakia Auto Sales in October 2023 grows for the 12th month in a row, posting 7,804 new car sales (+3.7%). YTD figures at 75,606 are up 15.2% from the previous year.
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 in October 2023 grows for the 12th month in a row, posting 7,804 new car sales (+3.7%). YTD figures at 75,606 are up 15.2% from the previous year.
Looking at cumulative data up to October 2023 brand-wise, Skoda maintains leadership with 14,899 sales (+30.7%), followed by Toyota at 8,900 (+32.3%) and Kia at 8,074 registrations (+8.1%).
Hyundai falls 2 spots into 4th with 7,759 sales (-0.5%), in front of Volkswagen at 5,488 (-5.9%), Dacia at 3,341 (+8.2%) and Peugeot with 3,092 (+9.3%).
Mercedes maintains 8th position with 2,771 sales (+31.4%), followed by BMW at 2,311 (+24.0%) and Suzuki in 10th with 1,999 sales (+58.7%).
Looking at specific models the Skoda Octavia so far sold the most cars (+69.8%), followed by the Kia Cee’d up 6.9% 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.
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and 10 Models.