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Automotive industry companies operating at close to full capacity

Nearly all of Hungaryʼs automotive industry companies are operating at close to full capacity in the fourth quarter, the chairman of the Hungarian Vehicle Industry Association (MAGE) said, according to mfor.hu. 

Photo by PopTika/Shutterstock.com

István Pintér said the pandemic had accelerated capacity expansions and technology upgrades, be they ones fully funded by companies or supported by government stimulus. He added that many automotive industry companies had become better positioned to take advantage of the changed economic environment post-pandemic.

Pintér, who is also chairman-CEO of majority state-owned automotive industry company Rába, said his own firmʼs order book is "practically full." MAGEʼs more than 60 members include Audi Hungaria, Magyar Suzuki and Mercedes-Benz Manufacturing Hungary. They account for about 80% of the sectorʼs output and 90% of its investments.