Slovak car plants expect record results this year
While the automotive sector in Western Europe is in crisis, Slovak car plants expect record results this year in terms of output and profits, reckons Alexander Matušek, head of the local automotive union ZAP. The four Slovak plants are benefiting from the decisions of their headquarters in previous years to locate production of crisis-resistant models here. Volkswagen and Jaguar Land Rover produce luxury SUV models, Kia in Žilina is the group's only European plant and Stellantis in Trnava produces cheap electric vehicles. The future is more cloudy, as the plants are currently negotiating on what models to produce in a few years' time. The Slovak car plants have long been more expensive than competitors in Portugal or Spain. Even with automotive suppliers, there is only talk of cuts in Western Europe, while in Slovakia the impact has so far been modest.
Comments