PRZOOM - /newswire/ -
Delhi, New Delhi, India, 2008/07/02 - Czech Republic, benefiting from its geographical proximity with several European countries, has turned into a major auto producer and exporter in the region, says RNCOS research.
The automobile industry of the Czech Republic is among the most promising and flourishing sectors in the region. The industry’s production is dominated by exports in the EU member state as over 90% of the auto production is shipped out of the country. Moreover, the Czech auto sector made up for around 20% of manufacturing output and 25% of the Czech export. These are the findings of “Czech Republic Automobile Sector”, a newly released research study by RNCOS.
Passenger cars and LCVs lead the auto exports in the Czech Republic by accounting for 99% of the total exports in 2006 and initial nine months last year. The highest jump in exports was observed in 2006 at 46% followed by 2005 with 37% exports. These stupendous export figures were the result of expansion in the production capacity of the Czech auto industry, says the RNCOS report.
Citing the automobile sector an integral and vital component of the country’s economy, a Senior Research Analyst at RNCOS said that geographical proximity of Czech Republic with other European countries gives an inherent benefit to players to cash in on the regional automobile market. Being the largest auto producer and a leading auto exporter in the region, the country has maintained its dominant stand and will maintain the status quo due to surging investments being injected into the sector.
Identifying the potential of the Czech Republic, more than 40 companies from the top 100 international auto corporations have set up their branches in the country, said the report.
The exhaustive research, “Czech Republic Automobile Sector”, gives a thorough analysis on the automobile sector of the central European country. The report provides a microscopic view of the Czech auto industry, with special foci on segment-wise (including cars, LCVs, trucks, motorcycles, buses etc)) qualitative and statistical analysis on production, sales, exports and imports. It studies the past and current market performance to help client identify the most potential segments. It also underlines the factors driving the market and gives an objective view on the future direction of the auto sector, including forecast on car and LCV sales, auto exports, and new auto registration.
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.