Hungary Autos Report - Business Monitor International - Industry Reports

Hungary Autos Report

Hungary Autos Report - Business Monitor International - Industry Reports
Hungary Autos Report
Published Sep 03, 2016
36 pages — Published Sep 03, 2016
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Finally, we highlight that the project is supported by Daimler s strong sales outlook for the ---- to ---- forecast period, which lowers the risks of this planned investment being delayed or cut back. Boosted by new product releases, stronger sales in China and a faster recovery in Europe, Mercedes has outperformed its two German luxury competitors in terms of sales over the last few years (see chart above) helping the company to reach record sales, revenues and EBIT levels in ----. ...The German car manufacturer has yet to provide details of how much production capacity will be added at the facility where over ---,--- compact vehicles were produced in ----. We believe that by expanding its production capabilities in Hungary, coupled with the announcement of a planned new EUR---mn (USD---mn) engine production facility in Poland, Mercedes-Benz will be well placed to take advantage of a growing European car market, which will support its goal of overtaking BMW in the luxury car market segment by ----. EU PC sales posted growth of -.- y-o-y in Q---, driven by consumer access to cheap credit, improving labour markets and low levels of inflation. ...EU PC sales posted growth of -.- y-o-y in Q---, driven by consumer access to cheap credit, improving labour markets and low levels of inflation. We forecast European PC sales to average annual growth of -.- over our forecast period of ---------, and by taking advantage of this growth via its new generation of compact vehicles, we believe Mercedes-Benz will be well placed to be the best-selling luxury car brand over the next five years.

...� Business Monitor International Ltd Page - second plant at its Kecskemet facility, to be operational by ----, has prompted us to revise up our production forecast for that year. Overall, we feel that Mercedes-Benz s newly announced plant investment in Kecskemet will have a strong impact on the country s automobile manufacturing industry and will further add to its appeal as a luxury vehicle manufacturing hub. ...The plant will be notable for its adoption of flexible production technologies allowing it to produce a range of models, including both front and rear-wheel drive models, across different vehicle architectures. While the company did not state the exact planned capacity of the models, Hungary s Foreign Minister, Peter Szijjarto, stated that the new plant will bring Mercedes total annual output capacity in the country to ---,---, up from its current capacity of ---,--- units, according to a Reuters report. We believe the additional capacity will have a significant impact on overall PC production given the concentrated nature of Hungary s automotive output. ...On a more basic level, Mercedes added capacity, combined with Audi s production capacity, will increase the industry s economies of scale and encourage further development of the country s workforce towards developing the higher engineering skills associated with luxury manufacturing. Again this will boost the country s role as a luxury vehicle manufacturing hub and spur further investments.

...� Looking forward, the outlook for Hungarian auto production has been boosted by the news during July ---- that Daimler s Mercedes-Benz division is to build a second manufacturing plant near its current plant in Kecskemet, to be operational by ----. � The growth of the Hungarian vehicle production industry over the coming years means that the country will continue to attract investment from parts suppliers. ...

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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Business Monitor International - Industry Reports. "Hungary Autos Report" Sep 03, 2016. Alacra Store. Oct 24, 2016. <>
Business Monitor International - Industry Reports. (2016). Hungary Autos Report Sep 03, 2016. New York, NY: Alacra Store. Retrieved Oct 24, 2016 from <>
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