Amidst woes, dealerships slash car prices

The prices of many cars sold in the Czech Republic have been slashed by as much as a third, and are at their cheapest levels for 15 years, according to a report by the Czech daily Lidové Noviny. The fall in prices is partly attributed to the strong crown, but also on increased competition stemming from the global economic slowdown, which has hit car sales particularly strongly. In contrast to Western Europe, Czech car sales remain on the up, with a nine percent increase from 2007.