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The car manufacturing industry in the Czech Republic has experienced fluctuations over the past several years. Between 2017 and 2019, the value of car manufacturing grew from €16.2 billion to €19.2 billion. However, the industry faced a decline in 2020, dropping to €16.6 billion, likely due to the impacts of the global pandemic. The value improved slightly in 2021, reaching €16.3 billion.
Looking ahead, the industry is forecasted to experience a significant rebound, with the car manufacturing value projected to rise to €19.2 billion in 2022. The upward trend is expected to continue, with the value increasing to €19.9 billion in 2023, €21.8 billion in 2024, and €23.3 billion in 2025. By 2026, the car manufacturing value in the Czech Republic is predicted to reach €23.6 billion, showing consistent growth and a promising future for the industry.
The car manufacturing volume in the Czech Republic has experienced some variations over the past several years. In 2017 and 2018, the volume remained stable at 1.4 million units. The industry saw growth in 2019, with the volume reaching 1.5 million units. However, in 2020, the volume dipped to 1.2 million units, possibly due to the global pandemic's impact on the industry. In 2021, the volume experienced a further decline to 1.1 million units.
Moving forward, the car manufacturing volume is projected to recover, with an increase to 1.2 million units in 2022. The positive trend is expected to continue, with volumes reaching 1.3 million units in 2023 and 1.4 million units in 2024. The industry is predicted to maintain stability in the following years, with volumes of 1.4 million units in both 2025 and 2026. This forecast indicates a gradual recovery and steady growth in the car manufacturing industry in the Czech Republic.
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Between 2020 and the third quarter of 2022, the financing landscape for new cars in the Czech Republic underwent significant changes. Individual leasing experienced a continuous decline, while company leasing saw fluctuations. Regarding loans for new cars, individual financing witnessed modest growth followed by a decrease, while loans for companies experienced more substantial growth before dropping. Overall, the financing trends for new cars in the Czech Republic indicate a downward trajectory in leasing for individuals, while other segments display fluctuations. Companies generally exhibit higher financing values, with loans emerging as the dominant financing method.
In terms of the automotive export market, Germany holds a commanding position, followed by France, Slovakia, the UK, and Poland as key contributors. Italy, Spain, Belgium, Hungary, Austria, Sweden, and the Netherlands make up smaller shares, with the rest of the automotive export market represented by a combined 7,693.43%. The automotive export landscape is highly concentrated in Germany, with other European countries playing significant roles as well.
In 2021, registrations of new and used vehicles in the Czech Republic were dominated by passenger cars. Light utility vehicles followed with considerably lower numbers. Other vehicle categories, such as buses, coaches, trucks, and motorcycles, accounted for smaller portions of total registrations. Overall, passenger cars led the new and used vehicle registrations, while other vehicle categories contributed smaller shares to the total registrations.