Spectator on facebook

Spectator on facebook

VW Slovakia almost doubled vehicle production last year

Volkswagen Slovakia (VW SK) recorded a turnover of €5.19 billion last year, up 28.5 percent year-on-year. Representatives of the company also told a news conference on Tuesday, March 13, that the carmaker's net profit surged 80 percent to €135 million, the SITA newswire reported.

Volkswagen Slovakia (VW SK) recorded a turnover of €5.19 billion last year, up 28.5 percent year-on-year. Representatives of the company also told a news conference on Tuesday, March 13, that the carmaker's net profit surged 80 percent to €135 million, the SITA newswire reported.

Some 210,000 cars rolled off the production lines at VW SK's Bratislava plant, representing a year-on-year increase of 45.6 percent. SUVs made up 93 percent of the overall output. Production of gearboxes in Bratislava was at its highest level since production began there in 1994: 401,00 units were manufactured, a rise of 5.8 percent year-on-year. In addition, the company produced 34 million components at its Martin plant in 2011, up 7.9 percent from 2010. The company spent €4.4 billion on production of vehicles, gearboxes and components last year, the SITA newswire reported, citing company figures. Components and material supplied by firms in Slovakia increased to a record share of 41 percent last year, representing €1.8 billion of VW SK's spending.

The company's exports were €5.16 billion last year, with 99.8 percent of production being shipped abroad. The biggest export markets were Germany, with a 41.9-percent share, China with 21.1 percent, the United States with 8.7 percent and Russia with a 5.3-percent share of overall vehicle exports. VW SK invested €225.5 million in Slovakia last year, the biggest portion of which went towards preparations to produce VW's New Small Family cars. Last year, the company also started building a new pressing plant. The company plans to invest approximately €90 million in this, and create 100 ongoing jobs.

Company representatives unveiled an investment plan according to which the carmaker plans to invest some €1.5 billion in Slovakia over the next five years in production of both vehicles and components.

Source: SITA

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Prosecutor withdraws charges of libel against journalist

The journalist originally received an 18-month suspended sentence with three years of probation.

The CT scanner scandal cost Pavol Paška his post as speaker of parliament.

Several Christians disagree with Church’s stance towards extremists

The extremist ĽSNS party drafted a bill limiting abortions in Slovakia, creating an awkward situation for the Church.

Illustrative stock photo

“I will not be playing ice-hockey anymore,” says Hossa

Health issues have caused the NHL player to withdraw from matches and consider moving back to Slovakia.

Marián Hossa kisses the Stanley Cup won by his Chicago Blackhawks team in June 2015.

A happy marriage? Both simpler, and tougher, than we realize

If experience is the mother of wisdom, why aren’t second and third marriages more successful?