Hungarian automotive industry: week 8
Last week saw an announcement on a Russian-Hungarian joint venture, we tested new Opels, Audi opened a faculty at local university and automotive suppliers handed over major investments.
Manufacturers
It was announced last week that as a result of Hungarian-Russian joint venture, at least 200 Evopro Modulo buses could be manufactured in the next decade with a gradually increasing added value from Russia.
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| Evopro: Hungarian dreams come true in Russia |
Last week, we tested two Opel cars, featuring engines manufactured in Szentgotthárd, Hungary.
Rába Járműipari Holding posted its 2014 results in the previous week. The company’s consolidated, group level revenues amounted to HUF 47.9 billion (EUR 154 million) in 2014, up 0.9 percent from the previous year, while its HUF 852 million (EUR 2.74 million) annual profit represents a significant decrease from HUF 2.67 billion registered in 2013.
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| Opel Mokka and Insignia: powered by Hungarian-made engines |
Suppliers
Last week, we interviewed Attila Bíró, the new plant director Knorr-Bremse Fékrendszerek Kft., about the company's current operations, new products, market opportunities and recent issues such as the implementation of an electric product tracking system.
Csaba Metál handed over a HUF 1 billion investment last week. The inauguration ceremony was attended by Hungarian President János Áder, who said the company's operation is both exemplary and motivating.
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| Hungarian police hands over new cars |
The Ministry of National Economy announced the investor of the month last week. In February, the award for the investor of the month went to Hungarian battery and plastic products manufacturer Jász Plasztik Kft. The award was established over one and a half years ago to honour successful domestic enterprises. Each month the award is given to a company by a professional jury.
Devecser-based Hajtó-Mű Kft. announced last week that it had launched a HUF 2 billion (EUR 6 million) investment to build a new production hall.
Service providers
The Hungarian police force has handed over a number of new Mercedes, Audi, Skoda, Seat and Suzuki cars, reported BRFK last week.
Education
Last week, Audi Hungaria inaugurated its own faculty at Győr-based Széchenyi István University. The dean of the Audi Hungaria Faculty of Vehicle Engineering is noted professional responsible for Audi Hungaria's scientific relations Barna Hanula.
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| Barna Hanula, Dean of Audi Hungaria Faculty of Vehicle Engineering |
Economy
The forint saw heavy fluctuations last week before settling at 306 against the euro on Friday. The near future of global economics could be influenced by developments in Greece's economy and the USA's fincancialy policy, analysts say.
A study shows that Hungary is a popular target for people with Finnish and Serbian nationality, while from a job perspective, foreign job-seekers are looking for positions in the engineering sector.
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| EUR/HUF exchange rates during week 8 - portfolio.hu |
According to British daily Birmingham Daily, Jaguar Land Rover had been considering Hungary as a possible target for a new investment. Current likely candidates are Austria or Turkey as Hungary didn't seem to have cut it for the British marque.
