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AutoWallis discloses theft at BMW dealerships

Listed car seller AutoWallis on Friday disclosed that inventory with a value of "at most HUF 250 million" was "illegally removed" from the lots of its BMW dealerships Wallis Motor Duna and Wallis Motor Pest, Hungarian news agency MTI reports.

The company said the theft had been reported immediately and necessary measures were taken. Thanks to that rapid response, some of the stolen property has already been recovered, it added.

AutoWallis has already set aside provisions in its 2019 books to cover the potential loss but trusts it can recoup the amount "to a significant degree".

The company added that it could not provide any further information because of the ongoing police investigation.