Europe: Czech sales soar, could post full year record image

New passenger car sales in the Czech Republic, home to Volkswagen’s Skoda brand, have jumped 20.4 percent year-on-year after the first six months of the year, according to the country’s car importers’ association.

The association added that Czech new auto registrations could exceed for the first time ever 200,000 units during a full year, with deliveries reaching 113,261autos during the January through June period – thanks to an accelerated economical growth in the central European country. The industry group’s secretary Pavel Tunkl commented that overall the full year tally could surpass the 200,000 vehicles mark, mainly owing to the strong fleet sales and increased demand from private consumption. The growth pace has seriously outrun the one registered in Germany, the continent’s largest market, as well as the total increase across the European Union, at 5 percent during the first half of the year and 6.8 percent after the first five months, respectively.

Naturally, Czech automaker Skoda Auto, a wholly owned subsidiary of Volkswagen AG, the largest European carmaker and the second biggest in the world, has leadership over the internal market. It has a market share of 32.2 percent, followed by parent company Volkswagen’s namesake brand with 11.2 percent and South Korea’s Hyundai with 7.9 percent, according to figures released by the association. The registrations have also showed an increased consumer confidence among the affluent buyers, with brands such as Ferrari and Lamborghini seeing upticks for the period.

Via Reuters