Hungarian automotive industry: week 14
Last week was dominated by automotive events for secondary school and university students: TechTogether Junior, Conference of Mechanical and Mechatronic Engineering Students and Formula Student Symposium. Le Bélier invests HUF 8 billion in Ajka, companies are more willing to expand and EKÁER is going through ever more changes.
Safety and brake systems manufacturer Le Bélier is investing HFU 8 billion (EUR 27 million) in it Ajka location, creating 100 new jobs.
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| Le Bélier invests in Hungary |
In the first three months this year, 6,305 passenger cars were registered in Hungary, up 2 percent y/y. The best-selling brand was Ford.
The Investor of the Month awards were handed out last week. Last month's winner was UniTrade M&M Kft., engaged in machine cutting and milling.
EKÁER (Electronic Trade and Transport Control System) is going through another set of – this time quite favourable – changes. From April on, firms with an annual turnover of over HUF 50 billion (EUR 165 million) and universal postal services will have an advantage when requesting an EKÁER registration number.
Hungarian railway company MÁV-Start received another 15 used passenger coaches in Hegyeshalom, which will enter operation in the northeast region following an overhaul.
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| TechTogether Junior held last week in Győr |
According to a report by Óbuda Group, the 20 largest automotive investments announced or carried out in the 2014-2015 period amounted to HUF 584 billion (EUR 1.9 billion).
Two thirds of domestic companies have plans to expand, while quarter of them are planning to lay off staff.
TechTogether Junior, a unique event for secondary school students aimed at bringing together young talents and automotive companies, was held in Győr, on March 27.
The event successfully promotes networking between secondary school students with an interest in sciences and engineering and companies looking for a fresh supply of workforce.
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| Formula Student Symposium |
We also reported on the National Conference of Mechanical and Mechatronic Engineering Students and Formula Student Symposium, a world-class event for the best young engineer students in Hungary, lining up presenters from the most distinguished branches of motorsports.
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| Forint vs euro week 14 - source: portfolio.hu |
We cannot really say that the forint was balanced against the reference currency last week. Nevertheless, the Hungarian currency traded below 300 against the euro on Friday afternoon.
