Part of EAFO’s Series on EV Market Trends Across Europe
🔔 Subscribe to our newsletter for the latest updates: Subscribe here
📢 Follow us on LinkedIn for more insights: EAFO LinkedIn
Slovakia’s automotive sector weathered a turbulent 2024, with vehicle production dipping to 993,000 units, down by almost 87,000 compared to 2023’s 1.08 million. Despite this setback, forecasts for 2025 signal a rebound, projecting output could reach 1.15 million vehicles. Slovakia nevertheless remains the world’s leader in per capita vehicle production, at 182 units per 1,000 inhabitants.
Stagnating Demand for EVs
Though Slovakia still relies heavily on automotive exports, domestic demand for electric vehicles (EVs) lags far behind European averages. The number of battery electric (BEV) and plug-in hybrid (PHEV) vehicles combined only reached a 4.79% share of newly registered cars. That includes just 2,227 new BEVs (about 2.38% market share) – unfortunately a 0.28% drop year on year.
“For a country that ranks first worldwide in cars produced per inhabitant, holding last place in the adoption of modern powertrains is unbefitting,”
said ZAP SR (Association of the Slovak Automotive Industry) President Alexander Matušek.
Market Overview in 2024
- Total new vehicle registrations: 106,134 (+4.2% vs. 2023).
- Passenger cars (M1): 93,409 registrations (+6.1% vs. 2023).
- Light commercial vehicles (N1): 9,061 (−0.51%).
- Trucks (N2 and N3): 3,412 (−13.37%).
- Buses (M2 and M3): 252 (−68%)*.
∗Heavily influenced by public sector procurements
The SUV category remains dominant, accounting for 52.0% of new passenger cars. The second most popular is the C-segment with about 20,273 units, followed by the B-segment with 11,343 registrations.
Brand and EV Leaders
Škoda once again led passenger-car sales, achieving a 20.71% market share with 19,342 units sold. For EV-specific registrations:
- Tesla – 521 units (BEVs)
- Volkswagen – 384 units (BEVs)
- Kia – 269 units (BEVs)
- Škoda – 246 units (BEVs)
- Mercedes – 220 units (BEVs)
Industry Challenges
The Slovak automotive sector contends with:
- High energy costs and inflation dampening consumer demand.
- Uncertain policy regarding future CO₂ regulations; 2025 is set to bring tougher fleet emission targets, but precise rules remain unfinalized.
- Insufficient charging infrastructure, deterring EV buyers.
- Fears of new trade barriers (notably from the U.S. and China).
Despite these issues, the automotive industry still makes up a sizeable share of Slovak industrial sales, at nearly 50% in 2023, and employs 165,000 people directly (244,000 including the supply chain).
Outlook
While production slowed in 2024, industry insiders remain cautiously optimistic for 2025. Manufacturers face pressing CO₂ targets that necessitate a sharp rise in BEV and PHEV sales. Yet uncertain policy details, high inflation, and limited charging infrastructure pose continuing obstacles. The automotive sector calls for more decisive government support, streamlined regulations, and a robust EV charging network to ensure Slovakia meets its environmental commitments and maintains its global competitiveness in car production.
Source:
- Automotive Industry Association of the Slovak Republic (ZAP SR)
Views and opinions expressed are those of the author(s) and do not reflect those of the European Commission.
