The Veszprém site of Continental Automotive Hungary Ltd., which is celebrating its 30th anniversary this year, has reached the one billion sensor production mark, the company told MTI. The Hungarian subsidiary of the German automotive group said in a statement that thanks to the developments of the past decades, the Veszprém site, which is already […]
US-based Dana Incorporated has announced to launch two projects to expand its operation in Győr. The leading auto parts manufacturer adds new capacities worth some EUR 96 million to meet growing demand for EVs. The investments, over 18% of which are covered by Hungarian taxpayers through a government decision, will create nearly 300 jobs for […]
Mercedes-Benz Manufacturing Hungary Ltd. achieved sales of nearly EUR 4 billion in 2022, compared to EUR 3.1 billion in the previous year; its profit before tax also increased: from nearly EUR 75 million in 2021 to more than EUR 96 million last year, the company told MTI. According to the report, the significant positive change […]
Automotive Hungary, an event dedicated to showcasing the latest technologies and trends, has opened at the Hungexpo fair site in the Hungarian capital this Tuesday. The four-day exhibition is accompanied by conferences. Automotive Hungary is for bringing together domestic and international suppliers and service providers of the automotive industry at all levels, the organizers say. […]
Up to EUR 50 million will be invested by Magna Metalforming GmbH to set up a new plant in Vecsés, southeast of Budapest, with the aim to produce structural bodywork items. The investment, which enjoys a 20% state support, is set to create 300 new jobs. Canada-based Magna International Inc. is a listed corporation that […]
Feeling the need to respond to changes in the automotive industry and the market in general, the retail- and wholesale distribution and mobility services business AutoWallis Group is to publish its first sustainability report. The Group, listed on the Budapest Stock Exchange, is a company operating in 14 countries in the Central and Eastern European […]
The AutoWallis Group closed another record year in 2022 despite another external environment full of challenges last year. The automotive company registered on the Hungarian stock exchange achieved revenue of HUF 270 billion with an EBITDA of HUF 14.5 billion and earnings per share surpassing HUF 19. The growth was primarily organic and exceeded even […]
Bosch and the Budapest University of Technology and Economics (BME) Competence Center for Innovative Automotive Technologies was inaugurated this Wednesday in Budapest. The competence center will focus on the development of electric vehicle powertrains, with BME and Bosch experts working on the optimization of electric vehicles. In his speech, Deputy State Secretary for Innovation of […]
Sales revenue by Audi Hungaria Plc., a member of the Audi group and the central engine supplier to the Audi and Volkswagen groups, increased by EUR 719 million (HUF 284.4 billion) last year, and its profit after tax by EUR 11 million (HUF 4.352 billion), the company said at its annual press conference at its […]
Hungary’s largest motor vehicles importer, Porsche Hungaria opened an Innovation and Training Center (ITC), located just outside Budapest, last October. With a huge automotive training and transfer capacity, the center – considered by experts to be an outstanding educational facility on an international level – welcomes technical and sales professionals from all over the country […]
The used car market was buoyant at the beginning of the year; in January, almost 69,000 cars changed hands, 3.7% more than a year earlier, the JóAutók.hu [‘Good Cars’] used car market portal said in its analysis on Monday, citing DataHouse's newly published preliminary data. It expects that in 2023, the number of transactions on […]
The main challenge for players in the Hungarian new car market since the end of last year is no longer a shortage of production capacity, but a decline in demand, Peugeot's brand director, Zsófia Bálint told MTI. She recalled that a year ago, sales were still constrained by a shortage of spare parts, and the […]
German automotive parts and equipment supplier Robert Bosch GmbH increased its turnover and improved its profit in 2022, according to a report received by MTI on Thursday. According to the preliminary figures, Bosch Group sales totaled EUR 88.4 billion, an increase of 12% – or about 10% excluding currency effects – compared to the previous […]
After the Hungarian Competition Authority granted its approval, the acquisition of the Nelson Group’s fleet management division has been successfully closed by AutoWallis Group, the latter has announced on the website of the Budapest Stock Exchange. By obtaining Nelson, which is among the ten largest players on the fleet management market, the automotive company has […]
The Volkswagen brand had a booming year in the Hungarian new car market last year: dealerships sold 10,311 VW passenger cars, 46% more than in the previous year, importer Porsche Hungaria announced. The Wolfsburg brand closed 2022 with a market share of 9.2% in Hungary, ranking third in the brand ranking on the market. Volkswagen […]
