Magyar Suzuki: Revenue, profit decline due to model switch
Revenue and profits of Magyar Suzuki, the Japanese carmakerʼs Hungarian unit, were down last year as the conditions for a model switch were created but the market success of the new Vitara model made in Hungary could potentially bring a sales record for the firm this year, company officials said in Budapest yesterday, Hungarian news agency MTI reported.
Magyar Suzuki closed its business year 2014/2015 in March with €1.539 bln in revenue, compared to €1.567 bln a year earlier. Profits fell 46.4% to €19.1 mln.
Head of production Ryoichi Oura said Magyar Suzukiʼs sales this year could exceed by 10,000-15,000 the original target of 165,000. Deputy CFO Ildikó Gyurján said sales revenue is also expected to exceed the targeted €1.7 bln. Sales manager Róbert Krisztián said Vitara leads the sales statistics in its own segment in Hungary. In April, Suzuki sold 647 cars, controlling 9.61% of the market, with Vitara accounting for one-third of the total.
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