The acquisition of Renault Hungária has been completed, as part of which the company established by the AutoWallis and Salvador Caetano Groups has gained the exclusive Hungarian import rights for the Renault, Dacia, and Alpine brands.
According to a statement published on the website of the Budapest Stock Exchange, AutoWallis plans to continue strengthening Renault Hungária and the market share of Renault and Dacia from 2021’s figure of 9% to more than 10% by 2023.
After all the necessary steps have been completed, AutoWallis Caetano Holding Zrt., founded by the AutoWallis Group, listed in the Premium category of the Budapest Stock Exchange, and its Portuguese partner, have gained ownership of Renault Hungária Kft., attaining the exclusive import rights for the Renault, Dacia, and Alpine brands in Hungary. The two vehicle sales and mobility services groups will gain equal shares in the Hungarian sales company, which had sales revenues of HUF 70.3 billion in 2021, and they will be working together to develop these three brands in Hungary.
The Renault Hungária team will continue to perform import activities, and AutoWallis and its group intend to grow the market positions, popularity, and sales numbers of the brands by relying on their positions, the strength of their capital, and the experienced network of dealers. AutoWallis plans to maximize the use of synergies within the group in areas such as IT, media purchasing, logistics, and certain financial activities. It will also be taking over some background services previously performed by centers in Paris and Warsaw.
Remarking on the completion of the transaction, Andrew Prest, head of AutoWallis’s Distribution Business Unit, said that Renault Hungária sold more than 13,000 vehicles in Hungary in 2021. With 8,139 units sold, Dacia was the 7th largest brand on the Hungarian market last year, with 5,207 Renaults sold the same year. In the first 9 months of the current year, 3,534 Renaults and 5,483 Dacias were sold. For 2023, AutoWallis plans to increase the market share of the Renault and Dacia brands from their 2021 figure of 9% to more than 10%.
Andrew Prest explained that in recent years, the Renault Group spent more than EUR 5 billion on developing electric vehicles and plans to launch at least 11 new models by 2025, all of which will be available in electric versions. Dacia has the 3rd largest market share in Europe among private buyers and is also the fastest growing vehicle brand. Development of the Alpine brand is a priority for the manufacturer, which offers additional opportunities for the AutoWallis Group.
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