Hungarian automotive industry: week 19

Manufacturers

Suzuki is expecting the new Vitara to revitalize the OEM's performance after a poor financial result in 2014.

Audi Hungaria CEO Thomas Faustmann elected as member of DUIHK

Audi Hungaria Motor Kft. CEO Thomas Faustmann has been elected as a member of the German-Hungarian Chamber of Commerce and Industry (DUIHK).

According to Datahouse, in the first four months of 2015, 13,369 new passenger cars and SUVs were registered, up 15.5 percent from the same month the year before.

The most popular brands are: Ford (4,015), Opel (3,233), Skoda (2,938), Volkswagen (2,677) and Suzuki (1,850). The fourth most popular model is manufactured in Hungary.

Suppliers

Mór-based Fehrer Automotive-Rába Kft. has invested HUF 3.477 billion in expanding its foam product capacity at its Mór location, creating 100 new jobs.

Automotive supplier Bourns Kft. has created new jobs and introduced a new technology at its production hall with a HUF 1.8 billion investment.

Fehrer Automotive-Rába Kft. expands in Mód

Machine and electronic products manufacturer Phoenix-Mecano Kecskemét Kft. has carried out a HUF 1.5 billion R&D investment project in Kecskemét.

Japanese-owned Stanley Electric Hungary Kft. has launched large-scale production for two new automotive lamp products.

The Association of the Hungarian Vehicle Component Manufacturers (MAJOSZ) held its annual general meeting on May 7 in Fót. The Association accepted its 2015 presidency and financial report and the financial plan for the year 2014.

Stanley to manufacture new lamp products for Honda and Suzuki

Service providers

Within the scopes of the Economy Development Operational Programme (GOP), 15 companies will receive a total support of HUF 6 billion, it was announced last week.

Székesfehérvár-based Mili-Cargo Kft. has been acquired by international logistics firm Maltacourt. Maltacourt is reported to be looking for new investment opportunities.

Mili-Cargo acquired by Maltacourt

It was announced last week that Jászfényszaru Industrial Park saw a HUF 1 billion investment.

Education

Autopro is participating in the organization of yet another competition for engineering students: Techtogether GTE Mach-Tech will be held on May 15 at Hungexpo, Budapest.

Shell Eco-marathon, one of Europe's largest competition for engineering students, will line up the six best alternative drive vehicles designed and built by Hungarian university students.

New automotive student competitions on the horizon

The Budapest University of Technology and Economics introduced a new programme based on a Finnish model: the Demola programme is now present at 37 higher educational institutions in 11 countries, used for promoting enterprising.

Last week, Professio Metal Industry and Vocational Cluster signed a partnership agreement with the Faculty of Apáczai Csere János of the University of West Hungary in Győr.

Economy

In March 2015, the volume of industrial production increased by 11.6 percent, substantially exceeding previous expectations. Analysts are projecting further growth in the volume of industrial output for the coming months, reported the Central Statistical Office.

In the competitive sector, a prolonged increase in employment cannot be maintained without economic growth, said Sándor Czomba, Secretary of State of the Ministry for National Economy.

In March 2015, industrial production prices in the European Union and the eurozone increased by 0.2 percent from February, when a 0.6 percent rise was registered.

HUF vs. EUR week 19. Source: portfolio.hu

The forint stayed near 303-304 against the euro all week.