Vechicle sales at AutoWallis rocket in Q1

Automotive

Thanks to six transactions concluded last year, the sales figures of AutoWallis have increased significantly: based on first-quarter data, the corporation has more than tripled the results of the previous year’s first quarter, according to a press release sent to the Budapest Business Journal.

In the corporation’s distribution business unit, the number of new vehicles sold has nearly quadrupled (382.5%) to 4,555 pieces. According to the press release, the growth was triggered by an organic growth of 32.5% (1,251 pcs), as well as the Opel sales started in four countries at the beginning of 2021. Partly due to the wholesale distribution of Opel, the transactions increased the sales figure by a total of 250% (3,304 pcs).

The company's retail & services business unit also performed well. Disregarding the effect of last year’s transactions, the number of new vehicle sales at AutoWallis increased by 42%, while including the impact of last year’s transactions (Iniciál Autóház, Wallis Kerepesi, domestic sales of Jaguar and Land Rover, as well as the BMW dealership in Ljubljana), there was a total growth of 238%, to 1678 pieces. The number of used vehicles sold increased by 132% to 434 pieces (8% decrease without the transactions). The number of service hours has increased by 40%, while taking the above-mentioned four transactions into consideration, it has demonstrated a 2.5-fold increase (152.7%) to 29,447.

AutoWallis argues that while the COVID-19-related restrictions still limit the growth potential of the vehicle rental sector, the positive turn is already in sight: the number of rental days has increased by 43% with an improved size efficiency, as the growth was accompanied by a decrease in the fleet size (-22%) and the number of rental events (-48%).

Gábor Ormosy, CEO of AutoWallis Plc., said that the first-quarter sales figures were an important milestone in the history of the company. He emphasized that the now published numbers were in line with the earlier announced plan of achieving a threefold increase of the company’s revenues by 2021 to above HUF 230 billion compared to last year with the help of organic growth and the six transactions concluded in 2020. He added that with the reopening of the economy and the recovering of tourism, he was expecting further growth in after-sales activities within the retail & services business unit, and the number of new vehicle orders was also promising, despite the uncertainty about the pace of the epidemic coming to an end.

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