Czech auto industry loses CZK 67 bln in month over Covid-19

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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.

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