After conquering the economic and political transformations in the early 90s, the automobile industry of the Czech Republic has emerged as a leading contributor in the country's economy.
The global automobile crunch severely affected the Czech economy. The slowdown in the European demand pushed the production of auto-parts and automobiles in the country. It is noteworthy that 10% of the GDP and one-fifth of the Czech Republic's overall industrial output are accounted by the automobile sector.
A latest research report of RNCOS "Czech Republic Automobile Sector" says that however, at present, there is a slump in demand for automobiles, but Czech Republic is well-balanced to consolidate its status of a foremost European hub for automobile designing and R&D activities.
Enormous number of technical professionals which are continuously supplied from the world-class technical universities has assisted Czech Republic to emerge out as a hub of European automobile industry. Both the existing and new automobile investors are acknowledging the stupendous background of the Czech automotive industry and are establishing their construction, design and R&D centers in the country. Moreover, extremely competitive investment-incentive program is also providing significant support to this trend.
Additionally, proximity to Hungarian and Slovakian plants has attracted several foreign auto-parts and accessories manufacturers to the Czech Republic. The trend is likely to continue in the near future, with higher number of foreign companies seeking a strong presence in the Prague-Bratislava-Gyor triangle - the home for booming car manufacturing and components industry.
As per the report, future growth in the Czech automotive sector will largely be propelled by the higher proportion of automotive exports in comparison of domestic sales. Several automobile companies will look at Czech Republic as their production hub and will export the automobiles to various markets across the world due to better infrastructure alongwith the support of industry association and government.
"Czech Republic Automobile Sector" report of RNCOS provides deep analysis of various segments of the Czech automobile industry, including production, sales and exports that will help clients analyze the industry at micro level. The forecasts made in the report will assist clients in identifying the potential segment(s) and thus, in designing market-centric strategies. It also furnishes an overview of the factors leading to the growth of the industry, opportunities to be availed and challenges to be confronted.
For more information visit: http://www.rncos.com/Report/IM602.htm |
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