Slovak Automotive Suppliers Survey 2014

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PwC in co-operation with the Automotive Industry Association of the SR (ZAP) conducted a survey among automotive suppliers in Slovakia. Our common goal was to compile a comprehensive analysis of the segment of automotive suppliers in Slovakia.

The outlook for 2014 remains optimistic

The Survey shows that the year 2014 will be successful again for Slovak automotive suppliers. There are two responses that represent a challenge for the industry sector – some 23% of suppliers expect transfer of production to Slovakia, and 71% of suppliers consider skilled labour to be a problem. That turns into a strategic task for all stakeholders – changes in technical education that reflect the actual needs of the commercial sector.

The majority of suppliers are optimistic for 2014 - 44% expect their revenues to grow and 40% expect a flat trend compared to 2013. 

The key to success will be innovation and R&D 

According to the survey and comparing to the previous year’s data, an increasing number of companies (24%) have already provided R&D services to their parent companies. Also, more companies (13%) now consider setting up local R&D activities or having a higher level of involvement in their groups' R&D projects.

The key to survive will be skilled labour

Availability and quality of skilled labour is one of the biggest challenges for Slovak automotive suppliers. 71% of the companies confirmed this in the Survey, consistent with the vast majority of global CEOs of automotive companies. This is also a big challenge for the reformation of the educational system in Slovakia.