AUTOMOTIVE STUDY 2025 / Šaroch (ed.) et al.

4 DEVELOPMENT OF THE ECONOMIC VALUE ADDED OF THE AUTOMOTIVE INDUSTRY IN THE V4 COUNTRIES AND GERMANY 4.1 Introduction In this part of the study, we traditionally examine the development of the nancial performance of companies in the NACE Rev. 2: 29 – Manufacture of motor vehicles, trailers, and semi-trailers. e companies under review are located in selected EU-27 countries, and our analysis is based on data reported in nancial statements. is time, our study compares the evolution of nancial performance over the past decade (2014 to 2023) in the Visegrad Four (V4) countries and Germany. During the period under review, the automotive industry contributed signi cantly to economic growth and employment in all V4 countries. Germany dominates the European automotive industry in terms of total revenue. For example, in 2023, companies headquartered in Germany in NACE Rev. 2: 29 – Manufacture of motor vehicles, trailers, and semi-trailers reported operating revenues (turnover) of EUR 931 billion. is share of German companies in the total operating revenues of the automotive industry in the countries of the EU-27 was 45.5 % in 2023. e share has remained relatively stable over the past decade. Among the V4 countries, the Czech Republic has the largest share in the EU-27 (average share in the EU-27 total over the last ten years was 2.9%), followed by Poland (average share over the last ten years was 2.2%), Slovakia (average share over the last ten years was 1.8%) and Hungary (average share in the EU-27 total over the last ten years was 1.5%). However, it is clear that the V4 countries, which together account for around one tenth of the total EU-27 turnover, make a signi cant contribution to the performance of the European automotive industry. e ten largest European automotive companies generated almost 60% of the total EU-27 (automotive) turnover in 2023 (see Table 4.1 below). e largest companies are based in Germany. Volkswagen AG (also referred to as VW) has the highest revenue. Škoda Auto a.s. (a subsidiary of VW), based in the Czech Republic, generated more than 40% of the Czech automotive revenue in 2023. Also, in Poland, the most important revenue contributor is a company that is part of the VW Group, namely VOLKSWAGEN POZNAN SP. Z O.O. It should be noted that this company accounts for only one tenth of the total sales of the Polish automotive industry, and the ownership structure of the most important players on the Polish market is thus rather fragmented. e largest company in the Slovak automotive sector is again part of the VW Group, namely VOLKSWAGEN SLOVAKIA, A.S. (one-third of the total revenues of the Slovak automotive sector). In Hungary, about a quarter of automotive revenues is generated by AUDI HUNGARIA ZARTKORUEN MUKODO RESZVENYTARSASAG, which also belongs to the VW Group.

94