The Czech auto sector, both cars and components, is booming. But the boom is not shared equally between the country’s biggest producers. While the biggest manufacturer, Škoda Auto, is hard pressed to keep up with demand, Hyundai saw production drop slightly last year and the trend is set to continue in 2018.
A booming economy on the back of higher wages, more people in jobs, and strong exports – fuelled largely by the auto sector - and hardly dimmed by the end of the low crown and resurrection of interest rates as a central bank weapon. That was the big economic picture of the Czech economy in 2017 with the foot on the pedal likely to be lifted just slightly over the coming 12 months.
Czech car makers are set to produce a record 1.4 million vehicles this
year, which is about 50,000 more than last year, according to figures
released by the Czech Automotive Industry Association.
Production of cars, trucks, motorcycles and busses grew by 4.5 percent between January and November, to 1.3 million, the association reported. Skoda is the driving force behind the growth in production followed by Tatra and Jawa Moto.
President Miloš Zeman continues to meet individually with members of the
proposed minority government led by Andrej Babiš, ahead of the
government’s official appointment next week.
Tomáš Hüner, set to be the next Industry and Trade Minister, met with the head of state at Lány Chateau on Sunday. He told journalists after the meeting that priorities for him were energetics, mineral resources and clean-up of environmental damages.
The new government is to be named on December 13.