PRAGUE, April 21, (Xinhua) -- The automobile manufacturers in the Czech Republic are estimated to suffer a revenue loss of over 50 billion Czech crowns (1.97 billion U.S. dollars) in March due to the restrictions put into place to stem the spread of COVID-19, the Czech Automotive Industry Association said in a press release on Tuesday.
Approximately 90 percent of firms in the sector stopped or limited production in March, leading to a fall of car production in the country by 36.2 percent, according to the association.
"Overall, due to shutdowns in March and April, production in the Czech Republic can be expected to fall by up to 170,000 motor vehicles, roughly 12 percent of total annual production, and this figure will continue to increase over the course of 2020," said Bohdan Wojnar, President of the Czech Automotive Industry Association.
The automobile industry, the country's largest economic sector and source of employment, was significantly impacted by the restrictions that affected the industry supply chains.
Suppliers are also expected to suffer a 17 billion crown loss (671.14 million U.S. dollars), according to the association.
Hyundai Motor Company, one of the country's three largest plants, has already reopened, while Volkswagen's Skoda Auto is planned to resume on April 27. Enditem
