High inflation, post-pandemic parts shortages and the war against Ukraine have also affected the automotive industry. Cars were auctioned in a shortage market, but only one of the Slovak car companies that published results increased their profits. Two saw their profit drop by tens of percent. However, the future of local car manufacturers is much more certain thanks to several new models and extensive investments.
Last year, global car companies saw their profits rise despite the new problems caused by the war against Ukraine. Of their production plants operating in Slovakia, however, only one managed to do so, Volkswagen from Bratislava.
The global automotive industry was initially quite taken aback by the lack of chips and the war against Ukraine, which also affected subcontractors there. Later, however, the hope dawned on him that he could use the period when production does not have time to meet the increased post-covid demand to generate higher profits. In a shortage market, the price of cars went up. Automobile companies produced fewer of them, but with more profit.
This positive effect really manifested itself in the results of the parent concerns of automobile companies, which also cover the finalization of sales. Last year, the largest European car manufacturer Volkswagen’s profit after tax rose by 3 percent to 15.8 billion euros. The Stellantis concern earned another billion euros more and thus achieved a record.
Well, the Slovak production plants of foreign car companies
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