Technavio, the London based market research company, has issued report covers the present scenario and the growth prospects of the automotive industry in Bosnia and Herzegovina (B&H) for the period 2016-2020.
In addition, the report also presents the manufacturer landscape and a corresponding.
According to the report, the automotive industry in B&H has a high potential in terms of growth, primarily due to the availability of cheap labour. The country has a longstanding tradition of manufacturing automobiles and automotive components dating back to the 1950s.
The production of automotive parts and components for passenger cars and heavy commercial vehicles was the first step in this direction. Manufacturers in B&H are well-known globally for supplying high-quality automotive components.
During the early 1970s, a merger between Volkswagen and UNIS Holding pioneered the production of vehicles in B&H,” says Siddharth Jaiswal, lead auto accessories analyst from Technavio.
“Though the growth potential of the market is high, sustainable growth is possible only with the active participation of both the industry leaders and the government, ” added Siddharth.