Hungarian automotive industry: week 10 2022
Fotó: Continest
Continest inaugurates new production hall in Székesfehérvár, Waberer's implements new paper-free technology, Rossi Biofuel opens biodiesel plant in Komárom. Let’s recap what last week brought in Hungary’s automotive sector. Clicking on the highlighted items will open the full stories.
On March 10th, Continest Technologies Zrt., a specialist in the development and manufacturing of collapsible medical containers, inaugurated a new production hall in Székesfehérvár. The company received a 433 million HUF non-refundable grant for the 541 million HUF investment.
Waberer’s is in the process of a joint IT development project with Vodafone Hungary and instantCMR. The haulier firm is introducing a new smartphone application, which is currently being or about to be used by 2,000 lorry drivers to centralize the handling of consignment data.
Rossi Biofuel Zrt. has inaugurated a biofuel plant in Komárom, built with a €45 million brownfield investment.
The German-Hungarian Chamber of Commerce and Industry (DUIHK) awarded Audi Hungaria for its excellence in vocational training in 2022. The award-winning project allows students to discover the company’s sustainability efforts in an “eco-conscious treasure hunt game”. The ever-present goal of Audi Hungaria’s training centre is to integrate the learning trends of future generations and facilitate their integration into the organization as eventual employees.
Two out of the three divisions of the Continental holding company – Tyre, Automotive and ContiTech – closed the previous fiscal year with profits. The Tyre division generated the largest profit – 12 percent – and ContiTech also had a positive balance.
BMW tripled its pre-tax profit compared to the previous fiscal year. The annual profit of the BMW AG amounted to nearly €12.5 billion in 2021, more than three times what it was the year before.
Audi, MAN and BMW have all been forced to introduce coercive measures at their Germany-based plants due to supply shortages.
According to analysts, even in the event of a rapid resolution to the war with Ukraine, it is unlikely for the Russian car market to fully recover this year.
Magyar Suzuki Corp. has suspended the Esztergom’s plant's export activities to Russia and Ukraine. The company sells approximately 10,000 cars annually in the two countries, while in 2020 it sold a total of 101,000 cars on export markets, which means the restriction affects 10 percent of the Hungarian plant’s total export volumes.
The increase in commodity prices caused by the Russia-Ukraine war could negatively affect the prices of electric cars as well, delaying their widespread adoption.
The price hike of nickel, lithium and other raw materials could slow down or even reverse the recent decreasing trend in battery prices.
