Automotive Industry Experiences Best Q3 on Record

Automotive

In its survey of the automotive sector's 16 most significant players, EY found that July-September was the best third quarter yet recorded for the industry, both in terms of operating profit, and sales revenue, according to profitline.hu. 

Despite the slowing economy and the complex geopolitical situation, demand is still strong, especially for premium autos, the supply of semiconductors and other raw materials and parts is improving, and cars can be sold at high prices, making this year's third quarter a "dream" for car manufacturers. 

The operating result increased by an average of 28% compared to the previous year. 

In terms of this indicator, German automakers performed exceptionally well, achieving growth of 58%, overtaking American and Japanese competitors, which had an average increase of 38% and 2%, respectively.

ADVERTISEMENT

E.ON Launching HUF 74 bln in Network Investments Energy Trade

E.ON Launching HUF 74 bln in Network Investments

Gov't to Launch HUF 700 bln Business Credit Scheme  Government

Gov't to Launch HUF 700 bln Business Credit Scheme 

Duna House Boosts Stake in Italian Peer Residential

Duna House Boosts Stake in Italian Peer

Avatar: The Way of Water Breaks Box Office Record in Hungary Art

Avatar: The Way of Water Breaks Box Office Record in Hungary

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.