AutoWallis’s vehicle sales increased by 11% y.o.y. in Q1
Compared to the same period last year, AutoWallis Group sold 11% more vehicles in the first quarter (a total of 7,410 vehicles). The group’s vehicle rental division also performed well: the number of rental events more than doubled and the number of rental days increased by almost 30%
Despite the chip shortage affecting the sector, AutoWallis has not yet identified any slowing in demand: the number of orders in the first quarter is 41% higher year-on-year, which the group attributes in part to the fact that some earlier orders remain open due to difficulties in delivery.
The direct effect vehicle manufacturers are experiencing in deliveries is tangible in the growth of the sales margins of new vehicles and in the increase in the demand for used cars. Margins increased in the latter sector as well, meaning in aggregate the chip shortage is having a beneficial effect on AutoWallis’s margin production capacity and profitability.
Of the company’s two units, sales volumes in the Distribution Business Unit increased by 15.6% to 5,266 units, primarily thanks to the SsangYong and Isuzu brands. AutoWallis' Retail & Services Business Unit saw the sale of 1,659 new and 485 used vehicles, equal to a drop of 1.1% and growth of 11.8%, respectively. The Hungarian passenger vehicle market experienced a slowdown of 10.9% in Q1.
Hungary Gasoline Prices 3% Over Regional Avg
Gov't Wants Sustainable Business Model for Magyar Posta
120,000 Guest Workers Employed in Hungary
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
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.
