Hungarian automotive industry: week 40 2019 edition
Thyssenkrupp starts construction works in Pécs, Infineon breaks ground in Cegléd, Bürkle launches production in Debrecen. Let’s recap what last week brought in Hungary’s automotive sector.
Continental is having to close down several locations of its manufacturing network in the USA due to the growing popularity of electric drivetrain technologies around the world. Hungarian locations are not affected by the company’s reorganization plan.
Continental’s Powertrain division continues operation under the brand name Vitesco Technologies.
Effective from October 1st, Adorján Zoltán has been appointed as the head of ContiTech Magyarország Kft. He is replacing László Jókay, who us retiring after 40 years of employment at Continental.
Thyssenkrupp’s new Hungarian production unit, already under construction in Pécs, is set to open by 2020. Built with a greenfield investment and supported with a HUF 5.57 billion government subsidy, the plant be engaged in the production of high-performance camshaft and electric motor components.
Infineon held the foundation-stone laying ceremony of its new plant in Cegléd last week. Production is scheduled to start in 2021.
Termelés-Logistic-Centrum Kft. (TLC Kft.), member of the German Sennebogen Group, began construction works for a new facility in Litér. The manufacturing unit will be built with a HUF 10 billion investment, supported by the Hungarian government with a HUF 1.27 million subsidy.
Bürkle’s new, €3 million production unit is now ready to begin operation at DTMP Science and Technology Park of Debrecen.
GE-CO is preparing for the economic slowdown with a diverse customer base, creating a clientele in the field of sheet metal manufacturing that can receive extra attention. Furthermore, the company is planning to launch the sale of high-standard equipment, such as waterjet and laser cutting systems.
Magyarmet Finomöntöde Kft. is following closely the changes in the auto industry, and other local businesses and SMEs also benefit from guaranteeing delivery times and security, which could prove to be key to success in the years to come.
The global economy is expected to decline next year, with economic growth expected to hit a seven-year low this year due to the escalation of the US-Chinese trade war.
Contrary to expectations, inflation in the eurozone went down in September thanks to decreasing energy prices.
Car registrations increased in Hungary in the period between January and September: 115,106 new cars were sold in the country, 10 percent more than in the base period. Although car registrations are expected to peak at the end of the year, reaching volumes akin to 2008, the last year before the economic crisis, prospects for next year are still uncertain.
We tested ZalaZone test track at 4:PONT:2, a conference held by the Association of Hungarian Vehicle Component Manufacturers (MAJOSZ).
