off-the-wire

Strong Czech first quarter car sales boost full-year outlook

Kitco Media
By Reuters
Published:
Updated:
Reuters
PRAGUE, April 6 (Reuters) - Czech new car registrations rose 18.9% to 56,341 vehicles in the first quarter of 2023, the country's Car Importers Association(SDA) said on Thursday, leading it to lift its full-year sales outlook.


In March alone, car registrations climbed 32.4% to surpass monthly sales seen in 2019 before the coronavirus pandemic shattered the market and brought on the supply chain issues that automakers are still grappling with today.


SDA expects car sales to rise to up to 220,000 vehicles in 2023, according to its outlook which is estimated by consultancy PwC, following a drop to 192,087 vehicles last year.


Volkswagen's Czech car brand Skoda Auto remained the market leader in the first quarter, data showed, followed by Hyundai Motor Co and Toyota Motor Corp , both of which run local production plants. Around three quarters of registrations are corporate sales. The share of fully electric vehicle sales rose to 2.4%, SDA said.
(Reporting by Jason Hovet; Editing by Kirsten Donovan)

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