Magyar Suzuki Plc.'s Turnover Exceeded EUR 2 Bn in 2022

The Esztergom plant of Magyar Suzuki Plc produced 129,022 cars in 2022, an annual increase of 20%, while net sales rose by 22.3% to EUR 2.144 billion, the company's executives said at a press conference in Budapest on Thursday.

Róbert Krisztián, the company's deputy CEO, added that last year, due to the disruption in logistics and supply chains (mainly the shortage of semiconductors), as well as a significant rise in energy and raw material prices, Magyar Suzuki Plc.'s profit halved to EUR 22.7 million compared to a year earlier. 88% of total sales, almost 114,000 cars, were exported to 123 countries.

At the same time, he indicated that the Esztergom plant produced Suzuki's Vitara and S-cross models - the formerbeing very popular abroad and the latter in Hungary.

He pointed out that they have maintained their leading position in new car sales in Hungary for the 7th year, with a market share of almost 12.5% last year, with about 14,000 new cars registered. This means that by 2022, one in eight new cars in the country will have been registered with the Suzuki logo, he said.

He also pointed out that of the approximately 14,000 Suzuki cars registered last year, almost 6,800 were sold to corporate and institutional customers, which puts the brand in 4th place in the fleet sales field.

On this year, he said that they are constantly monitoring and analysing the market situation and therefore expect the overall Hungarian new car market to decline by 5-6% this year compared to 2022. At the same time, they are confident that by the second half of the year, as inflation and interest rates fall, the market will consolidate enough for "new car sales to find their feet in Hungary," Róbert Krisztián pointed out.

According to a press release distributed on the spot, Magyar Suzuki Ltd. was founded in 1991 and has been the sole European manufacturing unit of the Japanese parent company ever since. The company contributes to the livelihood of around 10,000 employees thanks to its partners, suppliers and a national dealer network of 78 dealers.