AutoWallis registers record sales in all areas
The AutoWallis Group is breaking records in all of its business segments, with 60% of last year's total annual vehicle sales already achieved in the first six months of this year, according to a press release sent to the Budapest Business Journal.
According to Gábor Ormosy, AutoWallis CEO, the strong performance is based on the implementation of the growth strategy laid down earlier and updated in 2021, one of the key elements of which is a regional presence in 14 countries and the parallel development and expansion of wholesale and retail activities. He emphasized that this diversified portfolio is the basis of the Group’s balanced performance despite any possible economic downturns in a country or the weaker performance of a brand or activity.
The automotive market in the region covered by AutoWallis has continued to grow above the European average despite the difficult economic circumstances. Ormosy explained that some brands and types are still experiencing delivery disruptions and longer production times, but both the sales and the customer side are basically used to these.
AUtoWallis says that the purchases put off following the coronavirus may increase the volume of orders, and fear of the continuous increase in vehicle prices may also temporarily boost demand.
At the same time, rising inflation and a possible economic downturn will make industry players cautious and, in the long term, could catalyze the consolidation already underway in the industry.
The number of vehicles sold by the AutoWallis Group jumped by 32% to 15,379 units in the first half of the year, a faster pace than in the first quarter. Of the company’s two business units, the sales of the distribution business unit grew by 44.3% to 10,659 units, thanks to strong numbers by the SsangYong and Opel brands.
The performance of the company's retail & services business unit was bolstered by the Slovenian Avto Aktiv in the second quarter of 2022. The business unit sold 3,783 new (+10.4%) and 937 used (+11.3%) vehicles. In comparison, the Hungarian passenger vehicle market experienced a slowdown of 13.4%, according to market data by DataHouse.
The services offered by the company's retail & services business unit expanded as follows: the number of service hours increased to 77,983 (+24.4%) and Sixt, represented by the AutoWallis Group, more than doubled the number of rental events (+113.4%). At 26%, the growth in the number of rental days was a little slower, amounting to 83,410.
The figures indicate that shorter-term rentals, generally for tourism purposes and with higher coverage, have increased again in the quarter preceding the summer peak season, according to the press release.
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