Slovak Carmakers Increased Revenue By 34% In 2006

Local units of Volkswagen, Peugeot Citroen and Kia Motors grew area's revenues.

Slovakian-based car producers boosted revenue by 34% in 2006 to 443 billion koruna (US$17.7 billion) compared with a year earlier, the country's auto industry association said on March 30.

"A record figure was reached last year. All three producers contributed," association president, Jozef Uhrik, said referring to the local units of Volkswagen, Peugeot Citroen and South Korean-based Kia Motors.

Last year the three companies produced 295,390 cars. That total should rise to around 500,000 this year and around 800,000 by 2010, making 5.4 million strong Slovakia "a world power" for per capital car production, said Uhrik.

Almost all of last year's production, which accounted for 28.4% of the country's overall industrial output, was exported, he added.

Copyright Agence France-Presse, 2007

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