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15.04.2008

Automotive industry moves further east

The automotive industry in Central and Eastern Europe (CEE) is operating at high speed. Almost 6.2 million passenger cars and commercial vehicles were produced in the region in 2007. Production grew by 18.7 % in 2007, a much higher than the world average of 5.5 %. The most notable increases were registered in Hungary and Slovakia. "The CEE region contributed one-fourth of the increase in production at the world level", so Debora Revoltella, CEE Chief Economist of UniCredit Group.

The 2007 numbers once again confirm the increasing role of CEE in the automotive industry: all the top ten global car producers now have plants in CEE and export from the region. A change in the hierarchies at the global level is underway: intense international competition has made the relocation of production unavoidable for the top global market players and the CEE region is one of the main beneficiaries of this process, enjoying spectacular growth rates. A west-east substitution is thus visible, with European production shifting toward CEE countries. In 2007 the "old" European countries produced 600.000 vehicles less than eight years ago. Their share from a pan-European perspective is now 73 % down from 85 % in 2000. The CEE region profits from this shift and the CEE production now represents 10 % of total passenger cars and 5 % of commercial vehicles which are globally produced.

About UniCredit Group
UniCredit has a presence in 23 countries, with over 40 million clients and 9,000 branches, approximately 170,000 employees and total assets of approximately € 1,018 billion (pro forma) as of 30 June 2007.

In the CEE region, UniCredit operates the largest international banking network with over 3,700 branches and outlets, where more than 76,000 employees serve approximately 27 million customers. Currently, the Group operates in the following countries: Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Tajikistan, Turkey and Ukraine.

chart (GIF; 6 KB)
CEE Biweekly (PDF; 360 KB)

Requests: Communications CEE
Silvana Lins
Phone: +43 (0) 50505 56036
E-mail : silvana.lins@unicreditgroup.at
Christina Bischof
Phone: +43 (0) 50505 57126
E-mail : christina.bischof@unicreditgroup.at