Magyar Suzuki: Revenue, profit decline due to model switch

Telco

Revenue and profits of Magyar Suzuki, the Japanese carmakerʼs Hungarian unit, were down last year as the conditions for a model switch were created but the market success of the new Vitara model made in Hungary could potentially bring a sales record for the firm this year, company officials said in Budapest yesterday, Hungarian news agency MTI reported.

Magyar Suzuki closed its business year 2014/2015 in March with €1.539 bln in revenue, compared to €1.567 bln a year earlier. Profits fell 46.4% to €19.1 mln.

Head of production Ryoichi Oura said Magyar Suzukiʼs sales this year could exceed by 10,000-15,000 the original target of 165,000. Deputy CFO Ildikó Gyurján said sales revenue is also expected to exceed the targeted 1.7 bln.  Sales manager Róbert Krisztián said Vitara leads the sales statistics in its own segment in Hungary. In April, Suzuki sold 647 cars, controlling 9.61% of the market, with Vitara accounting for one-third of the total. 

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