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Follow on Google News | Recently released market study: Slovakia Autos Report Q3 2011Recently published research from Business Monitor International, "Slovakia Autos Report Q3 2011", is now available at Fast Market Research
BMI believes that there are a number of factors which are holding back Slovakia. Most crucially, labour costs are much higher than in other parts of eastern European. Estimates from the US Bureau of Labor Statistics show that hourly wages in the Slovakian auto segment are higher than those in Poland, Serbia and Bulgaria. The workers at the Volkswagen plant in Bratislava have won a 4.6% pay rise. Automotive World has reported that the pay rises kicked in on April 1 2011 and will see a 4.6% average raise for workers. The deal agreed will also see wages increase by 3% in March 2012. The deal struck between the management at the unions representing workers at the plant will also see workers receive a one-off lump sum payment of EUR225 in September 2011. ------------------------------------------------------------ Full Report Details at - http://www.fastmr.com/ ------------------------------------------------------------ The negotiations for the pay deal lasted just under two months, after the company began negotiations with an initial pay offer of 2%. Pay is steadily rising for auto workers in Slovakia, with Kia giving workers a 4.25% raise and workers at Peugeot winning a significantly larger 6.5% pay raise. Rising wages is likely to win industrial peace at Slovakian plants but higher wage growth could cut into the advantage Slovakia has over neighbours such as the Czech Republic or Germany in terms of labour costs. Meanwhile, over EUR1bn (US$1.36bn) will be invested in Slovakia over a five year period by Volkswagen. The German auto giant has said that it intends to ramp up production of vehicles and parts in the country, to take advantage of lower labour costs and the existing infrastructure and organisational capability the company has already established in the country. This is a significant investment as so far the firm has invested EUR1.7bn in the country over the previous two decades. The company currently has a vehicle plant near the capital of Bratislava, where the Touareg and Audi Q7 SUVs are produced. Additionally, Porsche components are produced at the plant. VW has already signed a deal with the Slovak Land Fund which will see a gearbox plant built on a 6.39 hectare large plot of land near the town of Martin within the coming four years. Report Table of Contents: SWOT Analysis - Slovakia Auto Industry SWOT - Economic SWOT - Business Environment SWOT Global Overview - BMI's Core Views For The Automotives Industry Regional Overview - EU Visualises An Oil-Free Future, But Will The Industry Accept It? - Table: EU Action Plan For Electric Vehicles - Table: Europe - Top Automotive Suppliers Sales By Region (US$mn) 2010 - Table: BMI Industry Risk-Reward Ratings For Autos In Europe - Production And Sales - Table: Slovakia Auto Production And Sales - Table: Slovakia Auto Trade - Trade Macroeconomic Forecast Scenario - Table: Slovakia - Economic Activity Competitive Landscape - Euro Entry - Manufacturers - Passenger Cars - Suppliers Company Monitor - MAN - MAN: SWOT Company Profiles - Volkswagen (VW) - PSA Peugeot Citroen - Kia Motors Country Snapshot: Slovakia Demographic Data - Section 1: Population - Table: Demographic Indicators, 2005-2030 - Table: Rural/Urban Breakdown, 2005-2030 - Section 2: Education And Healthcare - Table: Education, 2002-2005 - Table: Vital Statistics, 2005-2030 - Section 3: Labour Market And Spending Power - Table: Employment Indicators, 2001-2006 - Table: Consumer Expenditure, 2000-2012 (US$) - Table: Average Annual Wages, 2000-2012 BMI Methodology - How We Generate Our Industry Forecasts - Sources About Business Monitor International Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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