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Industry revenue of »sale of motor vehicles« in Czechia 2011-2023

Over the past decades, Czech Republic has emerged as an important hub for car manufacturing, owing to the advanced production facilities, state of the art technology and a skilled workforce. Some of the leading car manufacturers in the world such as Skoda, Hyundai and Volkswagen have set up manufacturing units in the country, over the years. As a result, Czech Republic is amongst the leading producers of passenger cars in Europe. Additionally, the number of registered passenger cars have grown almost two fold between 1990-2017, from 2.4 million units to over 5.5 million units, owing to factors such as the rising per capita incomes and stable economic conditions. Therefore, it isn’t surprising to see that revenues of the motor vehicles industry are projected to grow from 10 billion U.S. dollars in 2011 to over 20 billion U.S. dollars by 2023. Skoda, followed by Hyundai, Volkswagen and Peugeot are amongst the most popular brands of cars in the country.

The strong manufacturing prowess also makes Czech Republic one of the major exporters of vehicles in EU. According to data from worldstopexports.com, vehicle exports accounted for over 20 percent of the country’s overall exports in 2019 and were valued at over 40 billion U.S. dollars.

Industry revenue of »sale of motor vehicles« in Czechia from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Czechia. The industry “sale of motor vehicles“ has the code “G451“.

Details on the methodology can be found here.

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