AutoWallis Group Closes 2024 with Stable Growth

The AutoWallis Group sold close to 8% more vehicles in 2024 compared to 2023, marking yet another strong year, the company announced on the website of the Budapest Stock Exchange.

The number of vehicles sold by the group increased by 7.7% to reach 48,386. The Retail Business Unit saw the greatest increases, growing new vehicle sales by more than one-fifth (+21.9%) to 9,637 units and used vehicle sales by even more (+24%) to reach 2,553 vehicles. This outstanding performance is based on AutoWallis’s updated strategy, introduced in 2024: organic growth was strong last year as well, further supported by the acquisition of three Czech NC Auto (Stratos) BMW dealerships, finalized in the beginning of July, and the sales figures of the new Renault and Dacia dealership opened in Budapest in the fall.

In addition to highlighting AutoWallis’s regional role, the numbers also show that its diversified portfolio allows for growth surpassing the rate of the domestic market (12.9%*). The services field in the Retail Business Unit saw a 16.9% increase in service hours to 210,249 hours, with the Czech acquisition and the new Dacia and
Renault dealership in Budapest contributing almost 11%. AutoWallis’s Mobility Services Business Unit (which includes the Group’s short and long-term vehicle rental services as well as fleet management) saw a two and a half-fold increase in the number of rental events, topping out at 376,225 thanks to the 2023 acquisition of wigo carsharing.

Primarily due to fleet rationalization, the AutoWallis Group’s average fleet size dropped by 3.7% to 3,830 units, while the 1.9% increase in rental days, paired with the decrease in fleet size, indicates improved operational efficacy. The Distribution Business Unit increased its sales by 3.6% to reach 36,196 units in 2024: of the brands represented, Renault contributed the most to the Group’s growth with 7,001 vehicles sold, up by 24% compared to the brand’s 2023 figures. The Jaguar and Land Rover (+28.6%) and Opel (+3.5%) brands also showed strong performance.

Compared to the exceptional performance seen in 2023, SsangYong’s figures dropped (-6.1%) in 2024, mainly because the brand’s 2023 Q1 numbers were driven by a shipment delayed from the previous year. The decrease in the business unit’s sales in the first quarter of last year is attributable to this base effect as well as to one-off events (an increase in maritime transport times), which the business unit made up for in the remainder of the year—from Q2 until year-end, it sold 3,894 more vehicles than in the same period in 2023.

According to AutoWallis CEO Gábor Ormosy, the 2024 sales figures are a good illustration of the fact that the company, which represents a total of 27 brands in 16 countries, has an effectively diversified portfolio of countries, brands, and activities, and AutoWallis is performing exceptionally well in a volatile economic environment, growing steadily. The CEO emphasized that based on the Group’s strategy, updated last year, AutoWallis’s new vehicle sales may reach 100,000 units in 2028, of which 75,000 will be at the Distribution Business Unit and 25,000 at the Retail Business Unit, doubling last year’s total sales figures. The Group expects revenue to reach HUF 750 billion (more than half of which is already generated abroad) with EBITDA profits of HUF 40 billion by 2028, both of which figures are double the respective 2023 results. Gábor Ormosy stressed that 2025 sales figures will also be bolstered by the purchase of the Czech MILAN KRÁL GROUP, closed last December, which sold more than 2,200 units in 2024.