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

President to appoint missing Constitutional Court justices

The court will have its full complement of judges after three years.

President Andrej Kiska

Austrian natural gas station close to Slovak border exploded Video

The incident, which claimed one fatality and at least 18 injuries, also created an emergency in a Slovak village close to the Austrian border.

The explosion of Austrian natural gas station in Baumgarten, December 12.

Blog: Environmental sustainability is the future for sustainability in business

A great example of how you can make a difference by sharing your passion with others: Ivana Maleš, co-founder of the Institute for Circular Economy, describes her journey to a sustainability consultant.

Illustrative stock photo

Investment highlights 2017

Check out the most important investment events in the past year.

AeroMobil