Last year was very fruitful for the Czech car manufacturers

Published: 06.07.2020 Related countries:  United Arab Emirates United Arab Emirates

Car manufacturers saw record revenues last year, but expect 20 percent production fall in 2020

Car and associated component manufacturers in the Czech Republic saw record revenues of CZK 1,123 trillion last year, a 1.9 percent increase compared to 2018, the Czech Automotive Industry Association announced on Tuesday. Exports rose by 2.4 percent to CZK 942 million, with Germany being the destination for a third of products sold abroad. However, car production is expected to fall by around 20 percent in 2020, mainly as a result of the COVID-19 pandemic. The Czech automotive industry fared particularly well last year, but is facing a decrease in revenues in 2020. Automobile manufacturers produced a total of 1,427,563 cars in the Czech Republic in 2019.  The amount of workers employed at car manufacturing plants in the Czech republic rose by 1,000 to a total of 133,000 last year.

Source: https://www.radio.cz/en