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AutoWallis Group Registers Strong Vehicle Sales in Q1

Automotive

AutoWallis Group, is experiencing substantial growth with a 16% increase in new vehicle sales in Q1 2024, exceeding the 7% expansion on the Hungarian market, the company tells the Budapest Business Journal.

According to Gábor Ormosy, CEO of AutoWallis, the performance of the group’s Distribution Business Unit is meeting expectations, and he anticipates that the year’s sales data will be significantly higher than last year’s due to the current macroeconomic environment.

AutoWallis has seen a 6.1% expansion in service hours (to 47,763 hours) and an increase in rental events to 91,920. Additionally, the firm’s Retail and Service Business Unit increased its new vehicle sales by 15.9% (to 2,424 units) and its used car sales by 22.8% (to 597 units), which is notable considering the 7.23% growth in registered vehicles in Hungary (according to DataHouse).

The Sixt fleet, controlled by AutoWallis in Hungary, saw a reduction of 423 vehicles and an 11% diminish in rental days in the first quarter, explained by the company as a seasonal decrease. It should be noted that wigo’s 536 units expanded the total fleet size by 3.2%, or 113 vehicles, bringing up the total to 3,678 vehicles.

In the group’s Distribution Business Unit, the number of new vehicles contracted by 23.5% year-on-year, equal to 2,641 vehicles, mainly because of lower sales of SsangYong (reduction of 1,709 units), Dacia (decrease of 462 units), and Opel (drop of 287) vehicles. AutoWallis explains this diminishment with the exceptionally high figures in the last quarter of 2022 and the first quarter of 2023 (the base period). The numbers are attributed to deferred purchases due to COVID, the chip shortage, a large backlog of orders, and global shipping difficulties.

The number of new vehicles was also negatively impacted by the Suez Canal and the Red Sea situation as it extended maritime shipping deadlines by nearly a month. The company states that the effects discussed have been balanced out and sales are becoming more predictable.

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