BUSINESS BRIEFS

Car industry riding crest of wave

The booming Slovak auto industry last year saw investments of Sk28.2 billion crowns, almost three times the amount from the year before; domestic car sales were also up, by 27.3 per cent, reaching levels last seen before the fall of communism.

However, the president of the Automobile Industry Association, Jozef Uhrík, warned that Slovak cars were still far fewer and older than common in western countries.

The average age of a Slovak car in 2001 was 13.3 years; there was 1 car for every 4.16 people, against a less than 1:2 ratio in western European countries.

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