Hungary's President Katalin Novák and Prime Minister Viktor Orbán awarded Suzuki Motor Corporation President Osamu Suzuki with the civilian section of the Grand Cross of the Order of Merit of Hungary.Continue reading
In 2021, Suzuki Hungary’s Esztergom plant produced more than a hundred thousand vehicles. The brand managed to maintain its leading position in Hungary’s new car market, increasing its sales by six percent compared to 2020.
The Esztergom plant of Magyar Suzuki Zrt., the Hungarian unit of Japanese carmaker Suzuki Motor Corporation, produced 107,974 cars last year.
The output represents a four percent decline compared to the previous year as a result of the ongoing problem with a global chip shortage. At the same time, net sales rose six percent to 1.754 billion euros in one year, company executives said at a press conference in Budapest on Wednesday.
In 2021, a total of €92.9 million was invested in Esztergom, and this year around €100 million will be allocated for this purpose.
Last year, 120,164 cars were sold, 112,989 of them from the Esztergom plant. The factory plans to produce 147,000 cars this year.
In 2021, the Suzuki brand retained its leading position in the Hungarian new car market, with sales of 17,650 vehicles, reaching 14.48 percent of the passenger car market.
According to Magyar Suzuki Zrt., sales this year are expected to remain below last year’s level due to numerous global problems that will continue to affect the car industry in 2022.
At the press conference, it was announced that the company’s profit after tax reached €48.8 million in 2021, up from €20 million in 2020. As before, Suzuki will not pay a dividend this year and will use the profit to spend on investments.
CEO Masato Atsumi said Suzuki used the period of crisis caused by the pandemic to make improvements in production technology. He confirmed that the company is committed to a greener future, with previously announced targets to have carbon neutral plants and a portfolio by 2050, with electric models from 2025 and an increasing share of the range from 2030.
Deputy CEO László Urbán said that in order to maintain its market position, Suzuki is currently focusing on making hybrid vehicles available across its entire model lineup, so that the brand remains accessible to a wide range of consumers.
Featured image via Magyar Suzuki’s Facebook page