Slovakia Autos Q1 2020
We forecast growth in new vehicle sales in Slovakia to remain strong in 2020, coming in at 2.7% after an estimated 3.2%growth in 2019. Moderating household spending over the coming quarters will limit vehicle sales growth potential. We forecast totalvehicle production to grow by 2.0% in 2020 after an estimated 10.5% growth in 2019 as Jaguar Land Rover ramps up assembly of itspremium SUVs in the country. The export-oriented nature of Slovakia's autos industry leaves it exposed to dynamics in the externalenvironment, particularly the threat that the US will impose a 25.0% tariff on EU autos imports in 2019-2020, which presents risks toour production forecast.
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