The Czech Republic is on course to produce 250,000 less cars this year according to Reuters. Driven by continuing chip shortages, production is on track to be lower than during the height of the Covid-19 pandemic, fueled by the market’s largest producer, VW, who have previously said they would limit production and shut down plants until the end of the year. Automotive manufacturing makes up 35% of the Czech economy, employing 120,000 people, producing 1.3million units per year and drives most major leasing and contract hire markets in Western Europe. Read more about the store here.
