The Japanese automobile company's Hungarian subsidiary reached an agreement this week with employees.Continue reading
Minister of Economic Development Márton Nagy recently received Atsumi Masato, CEO of Magyar Suzuki Zrt., at his office. According to the statement of the ministry, the parties reviewed Suzuki’s role in the national economy and current economic developments. Nagy expressed his appreciation for the performance and regional role of Magyar Suzuki Zrt.
The Minister of Economic Development pointed out that Magyar Suzuki Zrt., which has been present in Hungary since 1991, is now able to produce the technology needed for hybrid cars, and in 31 years has become one of the country’s largest companies in terms of turnover, with exports to more than 120 countries on five continents and nearly 3,000 employees.
Márton Nagy added that
Japan was the seventh largest investor in Hungary in 2020, and capital investment from the East is becoming increasingly important, with a third of FDI coming from Asia in 2021.
He pointed out that Hungary’s economic strategy is driven by investment and export, and its ability to attract capital must be preserved. To this end, a new industrial strategy is being prepared, in which the domestic automotive industry will be given a prominent role. The experience of the players in the sector must be listened to and taken into account, the minister stated.
The Suzuki brand is extremely popular among Hungarians, with a 12.43 percent share of the Hungarian passenger car market in 2022, representing 13,859 registered cars. Suzuki has led new car sales in Hungary for the seventh consecutive year, thanks mainly to its Vitara and S-Cross models. Last year, the S-Cross was the most popular model, with the highest number of new car registrations. In addition, hybrid versions of both models have become available since 2022.
Featured photo via Facebook/Péter Szijjártó