Wallis Automotive Europe (WAE), a subsidiary of AutoWallis, has obtained the exclusive importer rights of Jaguar Land Rover vehicles and spare parts in Hungary, according to a press release sent to the Budapest Business Journal.
WAE will start selling Jaguar and Land Rover vehicles in Hungary from April 2020. The deal means that WAE will be present with these two brands in a total of nine countries.
With this step, AutoWallis says that it continues on the road set forth by the corporation’s strategy announced in the spring, in which it plans to double its revenue by 2024 via organic growth and acquisitions.
Based on the agreement, Jaguar Land Rover will be represented in the Hungarian market by the Netherlands-based AutoBinck Group until next April, who will be working closely together with WAE in order to realize a successful transfer. Until then, the long-standing, exclusive India-owned British brands will continue to offer their models and services for their customers at Budaörsi út 227, Budapest.
The managing director pointed out that they would most likely present their Hungarian market strategy related to the Jaguar and Land Rover brands, together with the planned distribution and sales models, next April.
Gábor Ormosy, the CEO of AutoWallis explained that they were counting on the Hungarian market of Jaguar Land Rover being almost as large as that of the other eight countries together, where a total of 1,577 cars were sold in 2018, so this step would allow the group to further strengthen its market position in the Central and South-Eastern European region.