Two thirds of Slovak automotive suppliers expect growth in 2015

Sixty-one percent of auto industry suppliers in Slovakia expected a certain amount of growth in production and revenues in 2015, according to the latest survey by PricewaterhouseCoopers (PwC) in cooperation with the Slovak Automotive Institute and the Automotive Industry Association.

Peter Mrnka, an auto industry specialist with PwC, said at a press conference that automotive suppliers were no longer brought on by Slovakia-based carmakers, but rather by demand on the markets in Western and Central Europe.

"It sends out a clear signal that Slovak suppliers are diversified and able to grow despite the fact that Slovak carmakers are in the doldrums and are at the limits of their capacities," said Mrnka.

As for major concerns, the surveyed automotive suppliers said they largely feared potential stagnation in growth in the volumes of production and sales in Western Europe and other developed economies.

"Another risky factor is the uncertainty and potential consequences for the volume of production caused by the conflict on eastern markets, namely in Ukraine and Russia," warned Mrnka.

The survey was carried out in March and April and canvassed the views of over 50 suppliers. Endit