BMI Expects Continued Carmaker Caution Despite Good First Quarter Results

With a 29.1% year-on-year (y-o-y) increase in auto production in Q110, when 267,040 units were shifted, one may be tempted to conclude that carmakers in the Czech Republic have finally shrugged off the global economic downturn. However, BMI cautions that the result says little about the state of auto production in Q109, when production of light vehicles alone fell some 23% y-o-y, to 205,281 units. BMI, therefore, attributes the increase to the low base from last year and expects production for the remainder of the year to remain weak.

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