Czech-based car maker TPCA keeps 2010 profits flat
Czech-based car maker TPCA, a joint venture between Japan's Toyota and France's PSA Peugeot Citroen, said Wednesday it kept its profits for 2010 flat against 2009 despite a drop in both sales and output.
The company based in Kolin, about 60 kilometres (38 miles) east of Prague, made profits worth 1.4 billion koruna (57 million euros, $81.5 million), although its sales fell by 14 percent against 2009 to 44 billion koruna.
TPCA president Satoshi Tachihara told a news conference the company maintained good profits despite an 11-percent drop in output caused by swings in demand in the past two years.
Output at the factory, which produces small Toyota Aygo, Citroen C1 and Peugeot 107 cars and employs 3,600 people, fell to 295,712 units in 2010 from 332,489 cars the year before.
The company exports most of its products, above all to France, Italy, Germany, Great Britain and the Netherlands.
Czech-based car makers including Volkswagen unit Skoda Auto and South Korea's Hyundai raised combined passenger car output by 9.5 percent against 2009 to 1,072,263 vehicles in 2010, topping the million-unit mark for the first time ever.
© 2011 AFP