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Czech Republic Autos Report Q2 2008Published by: Business Monitor International Published: May. 1, 2008 - 52 Pages Table of Contents
AbstractThe Czech Republic's automotive industry continues to report positive gains, the absence of anysignificant investment this quarter notwithstanding. As BMI reflects in the Czech Republic Autos Reportfor Q208, two Czech manufacturers enjoyed significant global growth in 2007 against a challengingoperating backdrop, while vehicle production in the Czech Republic itself hit record levels. New carregistrations in the country are also on the increase, underlining the sector's overall health.As mentioned above, vehicle production hit record levels in the Czech Republic last year. According todata from the Czech Automotive Industry Association (AIA), automotive output totalled 943,117 units in2007, an increase of 9.94% on the previous year. The gains came despite a backdrop of stagnant growthin Western Europe and a significant downturn in new car registrations on the German market. In line with data from the AIA, car production rose by 9.66% in 2007, to 932,016 units. The country isranked second behind Russia on BMI's Business Environment Ratings Index thanks in part to the stronglevels of output growth it is experiencing. Skoda was the biggest car producer, turning out 623,529 units,exceeding even its own forecasts for the year. The Czech carmaker had decided to raise full-yearproduction to 616,000 units on the back of growing demand for its cars across Europe. The carmakerexported some 563,226 vehicles from the Czech Republic in 2007. Toyota Peugeot Citroën Automobile(TPCA), the second biggest carmaker in the country, made 308,478 units, with exports totalling 306,916units. Other results include a massive 58.25% increase in truck production, to 3,154 units, and a solid13.87% rise in bus production, to 3,357 units. Skoda is one of the companies that enjoyed significant sales growth abroad last year. After makingsignificant gains in 2006, Skoda unveiled record results for 2007, including global sales of 630,032 units,up by 14.5% on the previous year. The carmaker's models proved particularly successful in WesternEurope and gains were made in key markets such as France. In the Czech Republic, Skoda maintained itsmarket lead, despite registering a 5.28% fall in new car registrations. Iveco Czech Republic was the other Czech manufacturer reporting record results for 2007. According tocompany sources, the country's biggest bus manufacturer almost doubled net profit in 2007 to CZK1.56bn(EUR61.2mn), against CZK789mn (EUR30.9mn) in 2006. Iveco's revenues were up by 33% year-on-year(y-o-y) to CZK11.3bn (EUR443mn), with total sales reaching a record 2,897 units. Get Full Details About This Report >> |
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