Mercedes-Benz’s Kecskemét (90 km southeast of Budapest) plant produced 146,000 cars, down from 174,000 in 2023.
Revenue fell sharply from EUR 5.075 billion to EUR 4.171 billion—nearly 20%—while pre-tax profit dropped from EUR 102.9 million to EUR 62.7 million.
Net profit totaled EUR 57.6 million, which the company retained in Hungary without paying dividends.
Some HUF 9.4 billion in state aid was reclaimed under a subsidy agreement signed in October 2023.
Audi Hungaria saw revenue decline from EUR 9.1 billion to EUR 8.6 billion, although vehicle output at its Győr (120 km west) facility rose slightly from 177,775 to 179,710, mainly due to the Cupra brand.
Pre-tax profit fell from EUR 380 million to EUR 336 million, and net profit was EUR 304 million, which the company also retained in Hungary.
Both the sluggish European economy and increased competition from China were key factors behind the weaker performance.
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