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EN
In recent years the largest and most important manufacturing sector in Slovak Republic has been the transport equipment industry. Its share is expected to grow in the next years too above all due to an expanding automotive industry as well. This industrial branch has been the engine of positive changes and has contributed to improved performance of supplier branches as well. At the same time there are several risks resulting from this excessive dependency of Slovak economy from one dominating sector. The main objective of the submitted article, is to provide an analysis of the development of Slovak automotive industry during recent years.
EN
This paper investigates the irreversibility of investments and their impact on the nature of the relationship between investment and uncertainty. The empirical analysis uses firm – level data and is based on a survey of 53 automotive suppliers, which was carried out during the year 2011. We find supportive evidence for the fact that uncertainty is negatively associated with planned investments of the companies surveyed, which remains true also in the presence of irreversibility. Yet, further investigation of the investment – uncertainty relationship and the role of irreversibility provide support for the view that the negative association between uncertainty and investment increases with the degree of irreversibility. So the degree of irreversibility of investment does influence the effect uncertainty has on planned investment.
EN
This paper considers the importance of the automobile industry in the global economic environment and sheds additional insight on the forecasting of passenger car sales. The study uses data from the automotive sectors in 38 countries, which account for more than 80% of passenger cars in use worldwide for testing the accuracy of a general framework that uses income and other country-specific factors to forecast passenger cars sales for short- and mid-term periods. The results indicate that this framework can be applied to a wide range markets, but its performance is primarily influenced by income levels in these markets. Tested and discussed is not only income as the main predictor of sales, but also the effects of other factors such as vehicle ownership level on passenger car sales projections. Income is shown to play both a determining role and a moderating role that affects other variables’ impact on passenger car sales.
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