Czech Republic: Passenger Car Market 2024

Passenger Car Market Size in the Czech Republic

The Czech passenger car market expanded markedly to $X in 2021, growing by 8.5% against the previous year. The market value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Passenger car consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Passenger Car Production in the Czech Republic

In value terms, passenger car production contracted rapidly to $X in 2021 estimated in export price. In general, production showed a pronounced curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 18%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Passenger Car Exports

Exports from the Czech Republic

In 2021, shipments abroad of passenger cars decreased by -2.9% to X units, falling for the second consecutive year after two years of growth. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 30%. Over the period under review, the exports attained the peak figure at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, passenger car exports stood at $X in 2021. The total export value increased at an average annual rate of +4.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by 16% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Germany (X units) was the main destination for passenger car exports from the Czech Republic, with a 53% share of total exports. Moreover, passenger car exports to Germany exceeded the volume sent to the second major destination, France (X units), twofold. The third position in this ranking was taken by the UK (X units), with a 22% share.

From 2012 to 2021, the average annual growth rate of volume to Germany totaled +11.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+14.8% per year) and the UK (+9.3% per year).

In value terms, Germany ($X) remains the key foreign market for passenger cars exports from the Czech Republic, comprising 25% of total exports. The second position in the ranking was taken by the UK ($X), with a 7.8% share of total exports. It was followed by France, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+2.9% per year) and France (+6.5% per year).

Export Prices by Country

In 2021, the average passenger car export price amounted to $X per unit, growing by 17% against the previous year. Overall, export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, passenger car export price increased by +30.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 51% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2021, the average export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Germany ($X per unit) and Austria ($X per unit), while the average price for exports to France ($X per unit) and Italy ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (-5.2%), while the prices for the other major destinations experienced a decline.

Passenger Car Imports

Imports into the Czech Republic

In 2021, overseas purchases of passenger cars were finally on the rise to reach X units after three years of decline. Over the period under review, total imports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -27.7% against 2017 indices. The pace of growth was the most pronounced in 2015 with an increase of 39%. Imports peaked at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, passenger car imports soared to $X in 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X units) constituted the largest supplier of passenger car to the Czech Republic, with a 74% share of total imports. Moreover, passenger car imports from Germany exceeded the figures recorded by the second-largest supplier, France (X units), threefold. The third position in this ranking was taken by Spain (X units), with a 21% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +15.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+13.0% per year) and Spain (+12.7% per year).

In value terms, Germany ($X) constituted the largest supplier of passenger cars to the Czech Republic, comprising 37% of total imports. The second position in the ranking was taken by France ($X), with a 10% share of total imports. It was followed by Austria, with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+8.6% per year) and Austria (+37.7% per year).

Import Prices by Country

The average passenger car import price stood at $X per unit in 2021, picking up by 13% against the previous year. Over the last nine years, it increased at an average annual rate of +3.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Austria ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (-1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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