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BUSINESS IN SHORT

Automotive sector is predicted to grow

THE SLOVAK economic situation should start to gradually stabilise in 2010, according to forecasts developed by the Economy Ministry and the ministry is predicting optimistic results for the automotive industry, one of the most important industrial sectors in Slovakia. The ministry expects the output of the automotive industry in Slovakia to increase to 544,000 cars next year with a further increase to 900,000 cars in 2011, the SITA newswire reported.

THE SLOVAK economic situation should start to gradually stabilise in 2010, according to forecasts developed by the Economy Ministry and the ministry is predicting optimistic results for the automotive industry, one of the most important industrial sectors in Slovakia. The ministry expects the output of the automotive industry in Slovakia to increase to 544,000 cars next year with a further increase to 900,000 cars in 2011, the SITA newswire reported.

Even though the global capacity of car production had been set for “inflated” global demand, an analysis by Unicredit Bank states that Slovakia should not experience further production cuts. The bank reported that car-making capacity should remain in Slovakia and that any difference between global demand for automobiles and supply will be resolved by companies reducing production in more expensive countries and in older assembly plants.

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