Hungarian automotive industry: week 7 2021
Fotó: thyssenkrupp Materials Hungary
Manufacturers and suppliers disclose coronavirus-hit 2020 financial reports, suppliers announce Hungarian expansion projects. Let’s recap what last week brought in Hungary’s automotive sector. Clicking on the highlighted items will open the full stories.
Although there have been prolonged talks between Liberty Steel and thyssenkrupp about the German company selling their loss-making steel division, it seems the parties are unable to come to an agreement, and thyssenkrupp will most likely keep their oldest branch.
Not surprisingly, the coronavirus pandemic has caused several car manufacturers to report on losses from last year. This was no different with Daimler, although the German car maker is optimistic about the year ahead and expecting an upswing affecting both the economy and new-car sales.
While Hungary-based Rába suffered a HUF 1.1 billion post-tax loss last year, looking forward, increasing order volumes are projecting a more successful year ahead.
An investment by Ferzol Kft., a company engaged in tool manufacturing and metalworking, is supported with a HUF 996.20 million non-refundable aid from EU-financed GINOP funds, under the framework of the Széchenyi 2020 programme.
GF Machine Solutions (GFMS), the machine tools division of Georg Fischer (GF), a company listed on the Swiss Stock Exchange, have announced to expand their staff and convert their Budapest unit into a regional centre for their development activities in Hungary, Romania and Bulgaria.
The Kecskemét Mercedes-Benz plant has won the manufacturer’s MPSleague award, acknowledging the car maker’s best manufacturing units, for the second consecutive year, defending its title from the previous year.
Although boasting carbon-neutral operation since 2020, Audi Hungaria have not stopped with their electrification efforts and began the test run of a fully-electric truck as part of their logistics activities.
Although prospects have improved since January, the increased demand on semiconductors can still cause disruptions in vehicle manufacturing worldwide. According to an unnamed source from the supervisory board of Volkswagen AG, the German car maker already warned partners back in April 2020 about the potential demand hike due to the upswing that was expected in the second half of the year.
