Hungarian automotive industry: week 24 2020
Fotó: Magyar Suzuki
The Suzuki plant in Esztergom has bright prospects for the future. Although demand is slowly creeping back up, it’s not fast enough to prevent certain automotive companies from introducing further cost cuts and layoffs. Let's recap what the 24th week this year brought in Hungary's automotive sector. Clicking on the highlighted items will open up the full stories.
Magyar Suzuki Zrt., currently exclusively engaged in the production of hybrid models for the EU market, says the automotive industry could experience a full rebound during the summer.
At Daimler’s Kecskemét plant, workers are using protective equipment manufactured at the factory.
Bridgestone Tatabánya Kft. will receive a HUF 250 million subsidy from the Hungarian government’s business competitiveness programme.
BPW-Hungária Kft., a company engaged in the production of running gear and suspension components, has survived the recent period without stoppages.
Robert Bosch and BME have announced to enter a joint project on the R&D of autonomous vehicles.
Despite gradually restarting production, difficulties persist at Volkswagen, and the German car maker is preparing for additional cost cutting measures.
Continental, a technology developer with significant presence in Hungary, is also forced to introduce cost cuts with potential layoffs.
According to OECD, the economic performance of G20 countries has relapsed by an extent not seen since the last millennium. The organization published a new forecast last week, projecting that a second wave of the pandemic could cause a a drastic setback in the global economy in 2021.
In a survey conducted with the participation of Hungarian businesses, economic research institute Századvég found that prospects are indeed improving, and Hungarian players are becoming more optimistic about the future in comparison with March and April.
Although the pandemic has taken its toll on bus manufacturers, long-term prospects are positive, and e-bus volumes could increase as soon as this year in Hungary. We interviewed the president of the Association of Hungarian Bus and Coach Manufacturers about the effects of the pandemic and the prospects of electric bus manufacturing in Hungary.
