Czech auto industry loses CZK 67 billion in month over Covid-19

21-04-2020

The monthly revenues of carmakers in the Czech Republic have fallen by an estimated CZK 50 billion since the coronavirus crisis caused shutdowns in production, according to figures released on Tuesday. In the case of suppliers, the estimated figure is over CZK 17 billion lost in one month.

All three of the Czech Republic’s main automakers halted production in the middle of March. Only Hyundai has reopened its plant to date, but Škoda will re-launch production on Monday and TPCA will do so the following week.

Car making is one of the most important industries in the Czech Republic, with Škoda alone accounting for around nine percent of the country’s exports.