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Automotive exports down 16% in the first quarter

Exports of the Slovak automotive sector were down 16% annually to €8.7bn in the first quarter, the statistics office ŠÚ reported. Almost 80% of exports went to EU countries, where exports were down 13%. The Slovak car plants are struggling with weak demand, but the decline may also be due to the investment cycle, i.e., the adjustment of production facilities to new models. All four plants have secured models for the medium term, but face increasingly fierce competition from Chinese electric cars. Sentiment in the EU industry is improving, not least because of the expected cut in interest rates by the European Central Bank.


Táto správa je z Ekonomiky DNES, denného prehľadu najdôležitejších ekonomických správ zo Slovenska.

This news is from the Slovak Business News TODAY, one-page summary of all the important Slovak business news.

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