New car sales in Slovakia down by 23.8% y/y in August.

By bne IntelliNews September 9, 2010
New car sales in Slovakia stood at 5,624 vehicles in August, representing a decline of 23.8% y/y, the Slovak Automotive Industry Association (ZAP) informed. This posted a significant improvement from the 43.4% y/y decline in July. On a cumulative basis, sales volume reached 43,311 vehicles for the first eight months and dropped by 35.1% y/y. However, the car-scrapping stimulus scheme, introduced in March 2009, still has a major impact on the annual growth rates. Net of the scheme effect, there is a 28% y/y growth on a cumulative basis. Czech Skoda kept its market leader position in the passenger car segment with a share of 18.55% in Jan-Aug. Renault moved to the second position with 7.65% and Volkswagen stepped down third with 7.11%. The sales of trucks, weighing 3.5 to 12 tonnes, rose by 15.6% y/y to 296 units in Jan-Aug, while the sales of heavy trucks above 12 tonnes were up by 55.5% y/y to 1,031. Italian Iveco topped the light trucks segments with a 60.14% market share while Volvo led with a 21.34% market share in the heavy trucks segment. Intellinews comment: In our view, the positive development in the sales of trucks could be a signal that companies revive their investment activity and the economic sentiments are rising.

Related Articles

Slovakia one of possible locations for new BMW plant.

German car maker BMW considers building a new plant in eastern Europe and Slovakia is one of the potential locations, Hospodarske Noviny business daily reported citing BMW's board member Ian ... more

Slovakia jobless rate edges down to 14.7% in February 2013.

Slovakia's unemployment rate in February 2013 fell for the first time in six months going down to 14.7% from 14.8% in January when it reached its highest level in more than 8.5 years, data from ... more

Frances CCN Group considers new plant in Slovakia - report.

France-based CCN Group, a supplier of components for turbines and automobiles, considers building a new plant in Slovakia in the town of Belusa, Hospodarske Noviny daily reported citing unnamed ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335