Czech auto industry loses CZK 67 bln in month over Covid-19
Photo by meowKa / Shutterstock.com
The monthly revenues of carmakers in the Czech Republic have fallen by an estimated CZK 50 billion (approximately EUR 1.816 bln) since the coronavirus crisis caused shutdowns in production, according to Czech Radio. In the case of suppliers, the estimated figure is over CZK 17 bln lost in one month.
Photo by meowKa / Shutterstock.com
All three of the Czech Republic’s main automakers halted production in the middle of March. Only Hyundai has reopened its plant to date, but Škoda will re-launch production on April 27 and TPCA will do so the following week.
Car making is one of the most important industries in the Czech Republic, with Škoda alone accounting for around 9% of the country’s exports, Czech Radio said.
ADVERTISEMENT
Wizz Air Celebrates 2.5 Millionth Passenger Flying From Debr...
Around 2,800 Events Take Place in European Capital of Cultur...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
