ADVERTISEMENT

Automotive industry companies operating at close to full capacity

Automotive

Photo by PopTika/Shutterstock.com

Nearly all of Hungaryʼs automotive industry companies are operating at close to full capacity in the fourth quarter, the chairman of the Hungarian Vehicle Industry Association (MAGE) said, according to mfor.hu. 

Photo by PopTika/Shutterstock.com

István Pintér said the pandemic had accelerated capacity expansions and technology upgrades, be they ones fully funded by companies or supported by government stimulus. He added that many automotive industry companies had become better positioned to take advantage of the changed economic environment post-pandemic.

Pintér, who is also chairman-CEO of majority state-owned automotive industry company Rába, said his own firmʼs order book is "practically full." MAGEʼs more than 60 members include Audi Hungaria, Magyar Suzuki and Mercedes-Benz Manufacturing Hungary. They account for about 80% of the sectorʼs output and 90% of its investments.

ÁKK Sells HUF 82.5 bln of Bonds at Auction, Above Plan Debt

ÁKK Sells HUF 82.5 bln of Bonds at Auction, Above Plan

EC Puts Hungary 2024 GDP Growth at 2.4% EU

EC Puts Hungary 2024 GDP Growth at 2.4%

HU-rizon Program: HUF 8 bln Funding for International Resear... Science

HU-rizon Program: HUF 8 bln Funding for International Resear...

Inspiring Women at the Focus of Gourmet Fest In Budapest

Inspiring Women at the Focus of Gourmet Fest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.