Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Skoda Auto to halt production at Czech Kvasiny plant due to parts shortage

Published 08/09/2023, 09:14
Updated 08/09/2023, 10:12
© Reuters.

PRAGUE (Reuters) -Volkswagen's (VW) Czech car producer Skoda Auto said on Friday it would halt production at its Kvasiny plant for at least a week from Sept. 11 and did not rule out limiting output at its main plant in Mlada Boleslav due to a shortage of parts.

It said the reason for the shortage was flooding at a supplier of parts for combustion engines in Slovenia, which affected the whole VW group.

"Due to a disruption in the provision of components across the Volkswagen (ETR:VOWG_p) Group's supply chain, Skoda Auto will also face shortages in the upcoming period," Skoda said in a statement confirming the halt at Kvasiny in the east of the country, as reported by Czech media earlier.

"At the moment, we cannot rule out any changes to production volumes at the Mlada Boleslav plant, where production is currently running without alterations.

"Our teams are working diligently to minimise any potential impact and deliver as many cars as possible to our customers," it added.

The car industry, anchored by Skoda Auto, is the backbone of Czech manufacturing and has outperformed manufacturing output that has mostly been stagnant or weakening this year.

A Czech-based car assembly plant of Toyota has had an outage since Aug. 22, which will last at least until Sept. 15, due to a fire at a Czech supplier, CTK reported on Thursday.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.