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IVECO sales in Hungary plunge 30% in Jan-Aug

IVECO's sales of commercial vehicles in Hungary plunged 30% to HUF 6 billion in January-August from the same period a year earlier, but it expects a 20% rise in sales of light commercial vehicle, based orders, as the country's economy starts to recover, managing director of IVECO's representative in Hungary Iván Gyöngyössy said at a press conference in Herceghalom on Tuesday.

IVECO expects its full-year new vehicle sales in Hungary to reach HUF 8 billion - HUF 9 billion, down from HUF 12 billion in 2008, Gyöngyössy said. Full-year revenues in Hungary, including services and spare part sales, are projected at HUF 18.7 billion, down from HUF 25 billion a year earlier.

Sales in the 3.5-to-6.0-tonne category were halved to 300 in January-August. Sales in the 6.1-to-15.9-tonne category dropped from 300 to 100. Sales in the over-16-tonne category dropped to 58 from 320 as the international haulage business contracted.

Total sales in Hungary of vehicles in the over-16-tonne category dropped to 800 from 3,200, Gyöngyössy said.

Markets in France, Germany and, to some extent, Italy, are picking up, and this shows in orders for commercial vehicles. The trend could reach Eastern Europe in the second half of 2010, Gyöngyössy said.

In spite of the drop in sales, IVECO's operations in Hungary remained profitable in January-August, Gyöngyössy said, although he declined to reveal any specific figures. (MTI-Econews)