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AutoWallis Car Sales Climb 86% in Q1

Automotive

Listed car seller AutoWallis's vehicle sales rose 86%  to 13,800 in the first quarter from the same period a year earlier, state news wire MTI writes, citing a preliminary report released on Monday.

Turnover of the wholesale division climbed 113% to 11,223 cars. In the retail segment, AutoWallis's new car sales increased 26% to 2,091, while used car sales were practically flat at 486.

Growth was supported by AutoWallis's acquisition, together with Portuguese peer Salvador Caetano, of Renault Hungaria, adding 3,576 units to vehicle sales. However, even without the acquisition, sales of the wholesale division still rose 45%, supported by a 92% increase in sales of SsangYong vehicles.

AutoWallis CEO Gábor Ormosy said the company would continue to follow its growth strategy, "responsibly, selectively, but actively", amid the challenging economic environment. In spite of the unfavorable economic outlook, he pointed to postponed purchases and high order stock.

The company's mechanics booked 45,004 hours in Q1, 52% more than in the base period.

AutoWallis's car rental business generated 4,556 contracts, up 10%.

The number of vehicles in its fleet management business jumped 294% to 3,565 with the acquisition of Nelson Group.

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