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BUSINESS IN SHORT

Car industry exceeds expectations

IN SPITE of concerns that the EU-Russia tit-for-tat sanction war would reduce production of cars in Slovakia, the reality exceeded expectations as carmakers in Slovakia managed to find alternative markets. The Slovak Automotive Industry Association (ZAP) estimates that carmakers manufactured more than 970,000 cars in 2014 while the original expectation was more than 930,000, maintaining the country’s position as the biggest carmaker per capita in the world.

IN SPITE of concerns that the EU-Russia tit-for-tat sanction war would reduce production of cars in Slovakia, the reality exceeded expectations as carmakers in Slovakia managed to find alternative markets. The Slovak Automotive Industry Association (ZAP) estimates that carmakers manufactured more than 970,000 cars in 2014 while the original expectation was more than 930,000, maintaining the country’s position as the biggest carmaker per capita in the world.

“With respect to the fact that preparation of factories for new models was not the only influence limiting production of the automotive industry, we have to mark keeping of the production at almost the record level of 2013 as unambiguously positive,” ZAP head Jaroslav Holeček said on January 15.

Kia Motors Slovakia near Žilina produced 323,720 cars, and PSA Peugeot Citroën in Trnava manufactured 255,176 cars, a new record. Based on ZAP’s estimates, VW manufactured more than 391,000 cars. This means that all told the country made 197 cars per capita, the highest number in the world.

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