Most car production goes abroad

THREE carmakers in Slovakia, Volkswagen Slovakia, PSA Peugeot Citroen and Kia Motors Slovakia, export as much as 98 percent of their production, Jaroslav Holeček, the president of the Slovak Automotive Industry Association (ZAP), told the TASR newswire in early January when Slovakia marked the fifth anniversary of the adoption of the euro.

THREE carmakers in Slovakia, Volkswagen Slovakia, PSA Peugeot Citroen and Kia Motors Slovakia, export as much as 98 percent of their production, Jaroslav Holeček, the president of the Slovak Automotive Industry Association (ZAP), told the TASR newswire in early January when Slovakia marked the fifth anniversary of the adoption of the euro.

The carmakers say the euro is an advantage for them as it has eliminated foreign exchange risks linked with crossborder financial transactions.

“Carmakers do not need to think where the export is headed,” said Holeček. “Before [Slovakia's adoption of the euro], when exporting [cars] to third countries without the euro, it was necessary to take into consideration three exchange rates: the crown, the euro and the currency of the third country.”

Carmakers in Slovakia manufactured more than 980,000 cars in 2013, upping their production by 5.8 percent compared with 2012. The estimate for 2014 is lower because of an expected shift in the car models manufactured in Slovakia. The Slovak automotive industry accounts for 26 percent of the total exports while all three carmakers rank among the biggest exporters in Slovakia.

Top stories

Vrakuňa’s citizens presented apples washed in water with leaked toxins at the protest in 2016.

Chemical time bomb in Bratislava’s Vrakuňa keeps ticking

The state is failing to solve leaking chemical waste dump.


31. may
Jupiter (centre) and its Galilean moons: from left Ganymede, Io, Europa and Callisto. Juice with deployed antennas and arrays is in the bottom right.

From Košice to Ganymede: Slovak engineers are leaving their mark in space

Slovaks are active participants in two ongoing space missions.


20. may
Four major carmakers produce in Slovakia.

Slovakia opposes new Euro 7 emissions norm along with seven EU countries

Euro 7 and ban on sale of new fossil fuels cars as of 2035 have become pre-election themes in Slovakia.


2. jun
SkryťClose ad