ADVERTISEMENT

AutoWallis registers growth in new vehicle sales

Automotive

The domestic business unit of AutoWallis saw a rebound to growth in the third quarter, as new vehicle sales within Hungary were up by 19%, while the number of new vehicles sold on the international markets increased by 22%.

Domestic and international sales together accounted for an accumulated increase of 22%. The company argues that this is comparable to the growth dynamics experienced prior to the downturn brought about by the coronavirus, and signals growth even without the impact of business developments and acquisitions carried out this year. 

Gábor Ormosy, the CEO of AutoWallis, mentioned that the management of the group’s subsidiaries adjusted their capacities to the temporary changes in the business environment as much as possible. He added that at the same time, they were prepared to meet new or postponed demands emerging with the recovery of the economy, whose signs were already noticeable in the third quarter in the number of purchases from stock and delayed repair and maintenance services now being performed. 

The CEO noted that the third quarter also saw organic growth, as a result of which domestic and international sales figures for the first nine months of the year reached a total increase of 19–27% year-on-year, while service utilization rose by 10%. 

Ormosy pointed out that AutoWallis continued its business development efforts in this period. As a result, altogether six domestic and regional acquisitions were announced, out of which the acquisitions of Iniciál Autóház and Wallis Kerepesi are already partially reflected in the current data. However, the positive impacts of all acquisitions will only fully show in the 2021 figures.

Partly due to its expanding markets and changing model portfolio, the group’s International Distribution Business Unit increased new vehicle sales by 26.6% to 1,963 in the first nine months of the year compared to last year. New vehicle sales at the Domestic Distribution Business Unit enjoyed a substantial upswing, resulting in an increase of 19% to 2,775, which is significantly better than the 15% shrinking of the Hungarian market registered by DataHouse. 

The size of the companyʼs available rental fleet was decreased by 26.2% to 437, with some vehicles being utilized for alternative purposes (such as courier services), and with part of the fleet being leased long-term. In contrast, the third-quarter performance of repair and maintenance services, together with the impact of transactions, completely made up for the downturn experienced in the first six months of the year: the number of service hours increased by 10% in the first nine months, which translates into a total of 41,733 service hours provided to partners of the group.

ADVERTISEMENT

M7 acquires Hungarian office property near Váci Corridor Office Market

M7 acquires Hungarian office property near Váci Corridor

Investment intensity highest in Budapest in Q1-Q3 Figures

Investment intensity highest in Budapest in Q1-Q3

EU leaders to discuss 'common approach' to vaccination certification at Thursday summit EU

EU leaders to discuss 'common approach' to vaccination certification at Thursday summit

Tourism nights down 85% y.o.y. in November 2020 Tourism

Tourism nights down 85% y.o.y. in November 2020

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.