AutoWallis Posts Double-digit Growth Across the Board
AutoWallis Group has already exceeded its full-year sales figures for 2021 in several areas in the first nine months of this year, according to a press release sent to the Budapest Business Journal.
In Q1-Q3 2022, AutoWallis' distribution business unit achieved high growth in sales, as the number of vehicles sold increased by 35.3% year-on-year to 16,759 in the first three quarters of 2022, already higher than last year’s total of 16,501. This growth was fueled mainly by the SsangYong brand with its 117% growth.
In the first nine months, the group's retail & services business unit sold 5,735 new (+10.3%) and 1,396 used (+15.9%) vehicles. The performance of the business unit was bolstered by the Slovenian company Avto Aktiv in the second and third quarters, though even organic growth amounted to 3.2% on its own, according to the press release.
As a result, the number of vehicles sold by the AutoWallis Group jumped by 27.1% to 23,890 units in the first three quarters of the year.
The services field saw an increase in service hours of 27.6 % to 121,468 hours, with organic growth of 3.9% without the acquisition of the Slovenian Avto Aktiv.
Sixt, represented by the AutoWallis Group in Hungary, increased the number of rental events by 63.6% to 17,256 in the first nine months of the year, which has already surpassed last year’s total figure of 15,648. The number of rental days is also approaching last year’s total of 164,132 after the index increased by 31.1%in the first three quarters to 161,252.
The size of the fleet continued to grow in the summer peak period, amounting to a total of 866 vehicles in the first nine months, equal to a growth of 53%.
Evaluating the trends of the first nine months, AutoWallis CEO Gábor Ormosy said it is now safe to say that the group will achieve record sales figures in all areas by the end of the year. He highlighted the fact that AutoWallis’s performance from quarter to quarter surpassed not only the European, but the Central European market average, and the record sales numbers are mainly attributed to organic development in addition to the impacts of transactions.
The automotive market in the 14 countries covered by AutoWallis has continued to grow above the European average, despite the fact that the inflation and economic outlooks are not favorable. There are still a number of deferred purchases on the market that may increase the volume of exceptionally high orders, and fear of the continued increase in vehicle prices may also temporarily boost demand, he explained.
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.