Slovakia’s automobile sales up in 2003
As per the data published by Slovak Car Industry Association, automobile sales in Slovakia amounted to SKK (Slovakia Koruny) 278.8 billion ($8.6 billion) in 2003, up by 50% compared to 2002. Moreover, automobile industry accounted for 25% of Slovakia's total industrial output last year. The increase in automobile sales is attributed to the developing technical level and therefore more economically profitable production of new models. Automobile components production increased to SKK 104.8 billion ($3.2 billion) last year. SSK 64.7 billion ($1.9 billion) of this figure was recorded by Volkswagen. Automobile industry investments dropped by 12% to SKK 21.1 billion ($652 million) in 2003. However, this figure is expected to reach SKK 28 billion ($865 million) this year.