MG Manufacturer Buys Out Hungarian Importer

Chinese car brand MG manufacturer SAIC Motor is to buy out the Hungarian import activities of Duna Motors Distribution Ltd., the parties announced in Budapest on Thursday.

Under the agreement with Duna Autó Group, SAIC Motor CEE will take over the management and operation of the importer business, a move that is in line with the long-term European strategy of the MG brand, the deal was announced in a statement sent to MTI.

According to the agreement, Duna Motors Distribution Ltd. will be responsible for the import activities of the MG brand in Hungary until 31 December 2024. After the takeover, SAIC Motor CEE will start the integration process to ensure a smooth transition for the dealer network, partners, customers and employees, they said.

William Wang, Managing Director of SAIC Motor Europe, said that "this business decision will allow SAIC Motor CEE to continue to directly shape its distribution and sales processes, further develop its after-sales services and service network. The new business model will focus on increasing the availability of electric and hybrid vehicles in Europe. They aim to further strengthen MG's position and market share in the Hungarian vehicle market.

In September 2022, Duna Motors Distribution Ltd., as a member of the Duna Autó Group, became one of the first importers in the Central and Eastern European region to start selling MG (Morris Garages) cars in Hungary, a brand with a British heritage. With a dealer network of 22 dealers, the business was launched with two models.

In the two years since then, the range has grown to seven models and the network to 25. The brand's share of the Hungarian new car market has been steadily growing and now stands at 1.9%. This year, more than 1,500 cars are expected to be sold, up from 1,040 in the first full year 2023.