As many as 61 percent of automotive industry suppliers in Slovakia expect a certain amount of growth in production and revenues in 2015, according to the latest survey by consulting company PwC in cooperation with the Slovak Automotive Industry Association (ZAP).The survey was carried out in March and April and canvassed the views of over 50 suppliers. PwC's expert for the automotive industry Peter Mrnka said that automotive suppliers are more often than not cautious in their predictions, with actual results proving more significant. According to the survey, one half of the respondents confirmed that their financial situation in 2014 was more favourable when compared to the previous year. Only 14 percent of the surveyed suppliers recorded worse economic results on the year. Mrnka went on to say that automotive suppliers are 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/or are at the limits of their capacities," said Mrnka. In addition, nearly 50 percent of the respondents said that they expanded their staff last year, while 43 percent expect to boost their employee pool in 2015.
As for major concerns, the surveyed automotive suppliers said that they largely fear 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. One of the key issues broached by this year's PwC survey was dual education and a qualified workforce. The survey showed that as many as 78 percent of the suppliers confirmed that the lack of access to and expertise of a qualified workforce may hamper their growth, citing insufficient internal resources and finances. Approximately half of those surveyed said that they would like to join the scheme involving the practical training of students based on the newly adopted legislation on vocational education. "About one quarter are interested in joining the dual education system for the 2015-16 academic year, with another quarter considering joining the system for the next school year," said Mrnka.
