Hungarian automotive industry: week 40
Festo, BorgWarner hand over new production units in Hungary. Knorr-Bremse to give another politician to the government, QFD holds supplier conference.
Manufacturers
General Motors has announced to phase out engine production at the company's Opel unit in the Aspern district of Vienna. The decision does not affect the car maker's Hungarian operation.
In related news, every new Opel Astra is now fitted with engines manufactured at the GM's Hungarian engine plant in Szentgotthárd.
 |
Since the Vitara's market launch in March, Suzuki has seen increasing sales volumes in Hungary: thanks to the new-gen Vitara's popularity, the brand has regained its leading position on Hungary's car market.
In September, 928 Suzukis were registered in Hungary, while from January to September, the Japanese car maker sold 5,049 vehicles in the country. In September, Suzuki's market share grew to 14.8 percent in Hungary.
 |
VW scandal
According to economy minister Mihály Varga, the Volkswagen emissions scandal will affect the Hungarian economy, and the German car maker has drafted an action plan to address the issue, while the home town of VW has frozen its budget for this year.
 |
Suppliers
Last week, U.S.-based exhaust systems manufacturer BorgWarner handed over a new 25,000 m2 plant in Oroszlány, where the company will produce exhaust recirculation systems, valves and coolers with a staff of 600–700 after full capacity is engaged.
Last week, Festo handed over a hydraulic cylinder manufacturing plant in Budapest with a HUF 4 billion investment.
 |
| BorgWarner hands over new plant in Oroszlány |
On September 22, engineering consultancy QFD Mérnöki Tanácsadó Iroda Kft. held the 4th Automotive Supplier Conference in Kecskemét.
Another automotive professional is expected to join the Hungarian government. Former Knorr-Bremse chief executive István Lepsényi has been recommended for the position of secretary of state for economic regulation.
ISD Dunaferr to continue layoffs: the Dunaújváros-based company has announced to dismiss another 97 employees. According to the company's HR department, the cutback is the third phase of a layoff scheme announced two years ago.
Service providers
Packaging manufacturer Rondo Hullámkartongyártó Kft. has completed a HUF 400 million investment in Soroksár, installing a new, industrial-scale gluing and bending machine at the company's production unit.
 |
| Former Knorr-Bremse chief executive István Lepsényi to join the Hungarian government |
Education
Széchenyi István University of Győr is expected to receive a HUF 6.4 billion subsidy on unique terms from the Hungarian government for the support of the higher educational institute's infrastructural development plans, which will lay the foundation for its automotive innovation programmes.
Economy
In June–August, Hungary's employment rate increased to 4.251 million, up by 27,000 from the previous three-month period and by 134,000 year-on-year.
In June–August, the number unemployed people in Hungary amounted to 304,000 in Hungary, thus the unemployment rate decreased to 6.7 percent from 6.8 percent in the previous month.
 |
| HUF vs. EUR - week 40. source: portfolio.hu |
Year-on-year, industrial producer prices went down by 0.8 percent. Domestic prices decreased by 3.2 percent, while export prices grew by 0.5 percent, according to the Hungarian Central Statistical Office (KSH).
In September, the seasonally-adjusted purchasing managers' index (PMI) was 55.8, up by 4.8 percentage points from August. The survey indicated a more positive outlook on economic processes than in the previous month.
The forint saw a slight increase against the euro last week, followed by a sudden weakening on Friday.
