Hungarian automotive industry: week 49
Audi AG appoints new CEO, AGC and ContiTech celebrate anniversaries in Hungary. Catalytic converters for buses developed in Hungary and green cars to park in Budapest for free.
Manufacturers
The Hungarian government has set to convert Rába into a global brand, a secretary of state of the government commented last week in connection with the new Rába Bus Programme.
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| Opel denies claims accusing the company with cheating with Hungarian-built engines fitted in Zafira cars |
Opel denies the claims saying that the Hungarian-made engines fitted in the Opel Zafira exceed the legal carbon-dioxide emissions limit.
In November 2015, new passenger car registrations were up by 11,6 percent (6,590 units) year-on-year.
Dieselgate
It was announced last week that Ulrick Hackenberg, head of development of Audi AG, is leaving the company, while Matthias Müller has been appointed chairman of the premium car maker's board of directors.
Suppliers
ContiTech celebrates 20th anniversary in Hungary: the Makó-based manufacturer of hose line systems for automotive applications was established in 1995 as one of the most important subsidiaries of Phoenix AG at the former Taurus rubber plant, with a headcount of only 13.
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| AGC celebrates 10th anniversary in Tatabánya |
Last week saw another anniversary: The groundbreaking ceremony of the AGC glass plant in Tatabánya was held in 2005, while mass production began a year later, in 2006.
Steel manufacturing to return to Diósgyőr: a small steel works and a rolling mill will start production at Diósgyőr Industrial Park in the second quarter of the coming year.
Zöld Levegő Projekt Kft. (Green Air Project Ltd.) has developed a catalytic converter for exhaust pipes for buses. The company has plans to establish an innovation centre for the development and testing of exhaust filter systems for automotive applications.
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| Steel production to return to Diósgyőr |
Similarly to previous years, Tab-based Flextronics International Kft. finished in first place on the list of TOP 100 businesses in Somogy county with a revenue of HUF 504.6 billion.
Service providers
The Municipal Assembly of Budapest has accepted the proposal to allow green vehicles park for free in the capital.
Freighter firm Maltacourt opened its first regional logistics office at the tri-modal logistics centre at Debrecen Airport.
Education
Starting in the 2016, rubber and tyre technician trainees at secondary education institutions in Gyöngyös will be able to complete their internships at the new Apollo Tyres tyre plant.
Economy
The tax legislation proposed for 2016 include a number of changes. One of the important objectives of the amendments is to further reduce burdens and support corporate loans and growth programmes as well as R&D and environmental protection initiatives.
It was reported last week that in the second phase of the Funding for Growth Scheme, banks had provided data for the National Bank of Hungary on 40,724 business transactions of 24,249 corporations at a total value of HUF 1183.2 billion.
In November, the seasonally adjusted value of the Purchasing Managers' Index (BMI) reached its peak this year. Participants seem to be more in favour of short-term growth prospects in the manufacturing industry than earlier.
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| EUR vs. HUF in week 49 - source: portfolio.hu |
The ECB's decision announced on December 3 is expected to have an effect on Hungary's currency against the euro in the next week.
