Cautious Outlook For Autos Production

Car production in the Czech Republic grew a robust 11.4% year-on-year (y-o-y) to 895,728 units during the first three quarters of 2011, estimates from the country's Automotive Industry Association (AIA) have revealed. BMI believes that the better-than-expected growth came on the back of robust import demand from Germany, which is the destination for a large proportion of Czech-made vehicles. However, we believe that the momentum is unlikely to be sustained during the remainder of 2011 and in 2012, amid fears of a slowdown in German growth.

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