Falling Czech car production in September reduced industrial output at the end of the third quarter amid plant shutdowns due to the global chip shortage, Reuters reported, citing the statistics office.
The report said output fell for a second consecutive month and drove the trend of lower output in central European economies heavily reliant on the car sector. Hungary had earlier reported its first year on year industrial output decline since January.
Go deeper with GlobalData
“September results reflect especially the reduction of production of cars and their parts,” Radek Matejka of the statistics office told Reuters.
Car production dropped by a third in September, according to data cited by the news agency.
Toyota and Skoda both halted production in September due to a shortage of chips, Reuters noted.
“It is still valid that complications in supplies of materials and necessary components can lead to fluctuations in production in the coming months and slow overall growth, especially in car manufacturers and related industries,” Radomir Jac, chief economist at Generali Investments CEE, told Reuters.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
