Czech car industry set to lose at least CZK 215 billion in 2020

Czech auto makers and parts manufacturers expect a fall of at least CZK 215 billion in revenues this year, representatives of the Automotive Industry Association said on Tuesday. While 1.4 million cars were produced in the Czech Republic last year, the figure for 2020 is expected to be 300,000 lower. This is because of an interruption in production and a fall in demand stemming from the coronavirus crisis.

The downturn caused by the pandemic has already caused CZK 150 billion in losses and these are expected to further deepen.

Author: Ian Willoughby