Car production in the Czech Republic is likely to fall 20 percent year on year, or 300,000 units, in 2020 from the 1.4 million units in 2019, the Czech Automotive Industry Association said Tuesday in a press statement.
Czech car makers are expected to see their sales revenue decrease by at least 215 billion Czech crowns (9 billion United States dollars) in 2020, according to the association.
The drop resulted from an interruption in production because of restrictions imposed to halt the spread of COVID-19 as well as a resulting fall in demand, the association said.
“The performance of the entire sector will be significantly affected by developments in foreign markets, and by the possible support of the Czech government,” said Bohdan Wojnar, president of the association.
The coronavirus pandemic has caused sales of automotive companies to fall by as much as 150 billion crowns (6.3 billion United States dollars) so far, and this loss is set to continue deepening, according to the association.