Hungarian automotive industry: week 11
Last week, Audi reported on a successful 2014, HIPA held a major automotive event, while transport companies announced new deals with domestic bus manufacturers. It was also revealed last week that Hungary´s volume of industrial production is above the EU average.
Manufacturers
Audi Hungaria closed a successful year in 2014. The German car maker's Hungarian subsidiary set a new record in engine production and will be awarding a premium to all its employees.
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| Rupert Stadler at Audi's press conference in Ingolstadt |
The entire AG achieved similar results in 2014, said Rupert Stadler at the company's press conference in Ingolstadt, Germany.1
Mihály Varga, Hungary's Minister for National Economy, launched the test operation of a new Hungarian-built electric bus in Budapest. He "took a bus" as a gesture to promote community transport in the country.
Last week, the Hungarian Investment Promotion Agency held an automotive summit, inviting executives from all four domestic OEMs and leading automotive supplier Bosch, who evaluated their performance and future prospects.
Pannon Volán Autóbuszközlekedési Zrt. has announced to purchase 60 new buses for intercity operation on behalf of transport companies Gemenc Volán Zrt. and Kapos Volán Zrt. Kravtex will supply Credo buses at a value of HUF 3 billion (EUR 10 million).
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| A good week for Hungary's bus manufacturing |
It was announced last week that negotiations are being held between the Hungarian government and Tata on the construction of a new Jaguar plant in Hungary, although no decision has been reached yet. Realistically speaking, Hungary is not a likely candidate as a potential location.
Suppliers
Borsodi Fémmegmunkáló announced a HUF 500 million (EUR 1.6 millon) investment project last week, supported by the government's Funding for Growth Scheme. The investment will quadruple the company's current headcount.
Zoltek, manufacturer fire resistant materials, carbon fibre products used in wind mills, aircrafts and the auto industry, was the 56th company to sign a strategic partnership agreement with the Hungarian government.
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| Japanese spring manufacturer invests in Tata |
Japan-based spring manufacturer NHK Springs announced plans last week to build a new plant in Tata, Hungary, creating hundreds of new jobs in the region.
Last week, Székesfehérvár-based Eurowind, manufacturer of superstructures handed over a new production hall. Rosenberger handed over a HUF 2.7 billion investment last week, creating 50 new jobs in Jászárokszállás.
Autoliv, manufacturer of safety belts and safety products, is in the midst of carrying out a growth programme at its Sopronkövest site, creating 700 new jobs in the following years. Last week, we interviewed unit directors at the company about the details of the development project.
Service providers
Hungarian railway transport company MÁV is inviting competitors for an open tendering programme to supply 21 motor trains for suburban operation.
The Electronic Trade and Transport Control System (EKÁER) was down for six hours last week due to an error in the government's electric transport tracking system. In spite of its test operation being over, there are still many open questions surrounding its efficiency and viability.
Education
Last week, clutch systems manufacturer LuK Savaria and Széchenyi István University of Győr signed a strategic partnership agreement.
Economy
The industrial output of the eurozone stagnated in January compared to the previous month. Hungary's growth was the second largest in the region month-on-month and third on year-on-year.
The volume of industrial production in Hungary increased by 5.3 percent in January compared to the same period in the previous year thanks to a 7.7 percent growth in domestic sales in the processing industry and a 4.7 percent rise in export.
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| Forint vs euro - week 11. Source: portfolio.hu |
Last week, the forint declined from 305 to 307 against the euro by Friday afternoon.
