Hungarian automotive industry: week 23
Hungary´s automotive industry is roaring just before the summer production halts: plant inaugurations, financial reports, car registrations and interviews. Let´s recap what happened in week 23 in Hungary´s auto industry.
Manufacturers
The General Assembly of the shareholders of Suzuki Motor Corporation and Magyar Suzuki Zrt. has decided to carry out a EUR 156 million equity decrease with compensation at Magyar Suzuki Corporation.
In no way will the move have any impact on Suzuki’s production in Hungary; Magyar Suzuki will remain highly over-capitalized, and the company intends to utilize the currently dormant capital more efficiently, said the company in a statement.
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The Győr area is still a likely candidate for the location of a new Tata group plant. Del Sehmar, communications director of Jaguar-Land Rover, said that talks regarding the new Land Rover vehicle plant are kept in secret.
The new-gen Opel Astra has been unveiled, available with an engine range manufactured at the car maker's Szentgotthárd plant, including a new 1.4-litre 145 bhp turbocharged unit.
In May, the best-selling brand (passenger cars and all commercial vehicles) in Hungary was Ford, according to a report by JATO Dynamics. The American car maker sold 961 vehicles in Hungary, accounting for 13.3 percent of the Hungarian market in May.
Suppliers
Bosch achieved double digit sales growth in every area of its Hungarian operations in 2014. Its total net sales including internal deliveries to other Bosch companies increased by 15 per cent to HUF 825 billion compared to the previous year, reported the company last week. This accounts for 2.7 percent of Hungary's GDP.
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Last week, László Borsodi, CEO of Borsodi Műhely Kft. gave interview to our site. He said that Borsodi Műhely Kft., established in 1981 in Győr, has been manufacturing assembling, tooling, test machinery and purpose-built equipment since 2008. CEO László Borsodi Jr. said he is the proudest of the company's ability to carry out all processes in-house, including planning, manufacturing and heat treatment.
Ferro-Press Fémipari Szolgáltató Kft., manufacturer of metal structures and sheet metal parts, has built a 10,000-square-metre production hall and purchased metalworking equipment and tools with a HUF 2.84 billion investment, supported by a HUF 851 million EU subsidy.
Silicone parts manufacturer Unisil Hungary Szilikongyártó Kft. built a new production unit in Szolnok with a HUF 1 billion investment, supported by a HUF 690 EU aid.
Last week, Csaba Metál received the Investor of the Month award. The company received the acknowledgement from Minister of National Economy Mihály Varga at an event for successful enterprises.
Mobile and navigation systems developer NNG could launch their Chinese subsidiary this year according to the company's current plans.
Education
Last week, SZEnergy from Széchenyi István University of Győr presented their medal-winning alternative drive vehicle for the press at the University. SZEnergy Team have participated at Shell Eco-marathon Europe for the 8th time. In addition to their bronze medal, the team also finished in 2nd position in the Technical Award segment, which acknowledges creative innovation.
Economy
In Q1 2015, Hungary's exports increased by 7.7%, while imports rose by 5.7 percent compared to the same period of 2014. The volume of gross domestic product increased by 3.5% in Hungary in the first quarter of 2015 compared to the corresponding period of the previous year.
According to seasonally and calendar effects adjusted data, economic performance in the first quarter of 2015 was up by 3.3% compared to the corresponding quarter of the previous year and by 0.8% compared to the previous quarter, reported the Central Statistical Office last week.
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| EVs to receive incentives according to Economy Minister |
The output of industrial production was up 6.3 percent in April year-on-year, with seasonal and work-day adjusted indices corresponding to non-adjusted data, reported the Central Statistical Office (KSH) last week.
Minister of National Economy Mihály Varga said that the government has plans to introduce incentives for EV owners. EVs will be able to use bus lanes and owners will receive discounts in road tolls and parking and even tax cuts, according to the Minister.
