Hungary’s Competition Office (GVH) cleared the Pappas Auto group to take over Iveco sales today, according to reports. Although Pappas Auto’s share of the market for light and heavy commercial vehicles will rise from 43% to 55% as a result, GVH said it would not significantly reduce competition on the market, given that MAN, DAF and Renault are big competitors, and that Pappas Auto’s other brands are not in director competition with Iveco vehicles. Pappas Auto’s share of the bus market would rise from about 30% to 40%, but it still has four big competitors, GVH added.
The company is planning to sell 500 vehicles with a combined value of HUF 6.6 bln next year. Pappas Auto sells Daimler, KIA and Fiat vehicles and parts in Hungary.
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