Despite “signals of demand recovery” AAA Auto said it “maintains conservative expectations for its sales growth in 2011”, projecting increases of about 10% on both of its markets in the Czech Republic and Slovakia.
AAA Auto’s board decided in March to wait for the retail car segment in Hungary to stabilize before it considers re-entering the market. The board decided a year earlier to temporarily shut down the company’s operations in Hungary because of the worsening economic situation and low demand. AAA Auto said at the time it did not intend to delist its shares from the Budapest Stock Exchange and planned to come back to the Hungarian market in two to three years when the economy recovers.
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