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Stock impact report

Czech car industry faces shaky relaunch as Skoda returns to work [Reuters]

Toyota Motor Corporation (TM) 
US:NYSE Investor Relations: toyota-global.com/investors
Company Research Source: Reuters
Czech car industry faces shaky relaunch as Skoda returns to work PRAGUE, April 27 (Reuters) - The Czech Republic’s biggest exporter, Skoda Auto, restarted production on Monday but the auto sector faces a shaky relaunch with the coronavirus outbreak hammering demand for cars. The car industry accounts for a tenth of the country’s economic output, a quarter of exports and 150,000 jobs but looks set to run well below capacity in 2020. Skoda, part of the Volkswagen Group, shuttered its operations in March as the number of coronavirus cases in Europe began to accelerate but is now restarting as the central European country of 10.7 million loosens some restrictions. On Monday, Czech shops up to 2,500 sqm and places like fitness centres reopened under the government’s phased plans. Skoda workers returned wearing masks and were subject to temperature checks, part of 80 new company measures from hand sanitising stations and expanded break areas to extra time for cleaning work stations. Around Show less Read more
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