Budapest, January 31, 2000 (MTI-ECONEWS) - OKI Systems Hungary Kft projects
net sales of HUF 1.2bn for the financial year ending March 31, unchanged
from the previous year, but hopes to strengthen its position on the Hungarian
printer market and increase sales to HUF 1.6-2bn in the next financial
year, managing director Gabor Erdi-Krausz told the press on Monday. OKI
Hungary Kft also represents the brand in Romania, Bulgaria, Croatia, Macedonia,
Slovenia and Yugoslavia. Sales director Robert Berenyi said that, although
there were no precise figures, an estimated 100,000 printers were sold
in Hungary a year and that 60-70pc of them were page printers. Mr Berenyi
said that OKI's market share was only 5-10pc, explaining that the Japanese
company entered the Hungarian market late and that it would take some time
for the company to achieve its maximum potential market share.
New car market expands by 24.79pc in 1999
Budapest, January 17, 2000 (MTI-ECONEWS) - The market for new cars expanded
by 24.79pc, which translates into the sale of 129,852 new passenger cars
and jeeps in 1999, compared to 1998, figures from the Hungarian Car Importers
Association (MGE) and Magyar Suzuki Rt show. Member companies in MGE and
the non-member Magyar Suzuki Rt sold 104,055 new cars and jeeps in 1998
together. The expansion in 1998, compared to 1997, was 30.35pc. Suzuki
increased sales by 28.5pc in 1999, retaining its leading position on the
Hungarian passenger cars and cross-country vehicles market. Suzuki's market
share rose from 23.87pc to 24.59pc, with new car sales increasing from
24,843 in 1998 to 31,926 in 1999. Opel took second place in terms of market
share, with its market share dropping from 16.54pc in 1998 to 15.06pc in
1999. Opel sales increased 13.4pc - from 17,214 to 19,555, while the market
expanded 24.79pc. Volkswagen finished third in 1999 with a 8.05pc share
of the Hungarian new car market, followed by Fiat with 5.99pc, Daewoo with
5.97pc and Ford with 5.89pc. Almost all the companies present on the Hungarian
market registered increased sales in 1999 compared to 1998, except for
Alfa Romeo, Chrysler, Honda, Kia, Mitsubishi, Saab and Ssang Yong. Of the
brands with sales between 1,000-10,000, Skoda increased sales by 67pc from
3543 to 5951 and Toyota lifted sales by 56pc from 3070 to 4812.
Hungary's new vehicles market expanded in the categories above 3.5 tonnes
as well, by 5.2pc from 3,492 to 3,674, according to figures from the Hungarian
Vehicle Importers' Association (MGE). Of the categories above 3.5 tonnes,
the largest sales were registered in the categories between 5.0-10 tonnes
and above 15.01 tonnes. In the lower (lighter) category, 1,438 trucks were
sold in 1999 compared to 1,576 in 1998. In the category above 15 tonnes,
MGE member companies sold 1,432 trucks in 1999 compared to 1,395 in 1998.
MGE members sold a total of 316 3.5-tonne trucks, 135 vehicles between
3.51-5 tonnes, 278 trucks between 10.01-15 tonnes and 75 buses in 1999.
Sales of small commercial vehicles increased 8.3pc in Hungary in 1999,
according to figures from the Hungarian Vehicle Importers' Association
(MGE). MGE members sold a total of 26,316 small commercial vehicles in
Hungary in 1999 compared to 24,294 in 1998. The 1999 sales figure included
sales of 5,994 vehicles below 2.5 tonnes and 20,323 vehicles between 2.5
tonnes and 3.5 tonnes. Just as in 1998, Toyota was market leader on the
market for small commercial vehicles. Toyota's market share rose from 11.9pc
to 12.9pc, with sales increased from 2,890 in 1998 to 3,388 in 1999. Peugeot
was second with a 9.5pc market share in 1999, with Mazda taking third place
with 8.4pc. In 1998, Peugeot was only fifth and Mazda was sixth. Volkswagen,
which finished second in 1998 with 9.4pc, saw its market share shrink to
6.5pc, selling only 1,707 vehicles compared to 2,276 in 1998. Nissan, which
was third in 1998 selling 2,064 vehicles, sold only 2,026 vehicles in 1999,
with its market share decreasing from 8.5pc to 7.7pc. Citroen, Peugeot,
Renault and Mazda all increased their respective sales by over 30pc in
1999 compared to 1998.
Suzuki production up slightly
Budapest, January 5, 2000 (MTI-ECONEWS) - Magyar Suzuki Rt produced 68,105
automobiles in Esztergom (N-Hungary) in 1999, almost 4pc up on 1998, the
company informed Econews on Wednesday. Magyar Suzuki sold a total of 31,926
Suzukis in Hungary in 1999, including 30,800 vehicles made in Esztergom.
The company exported 35,546 cars from the that plant in 1999. In 1998,
Magyar Suzuki exported 42,001 cars made in Esztergom, compared to 47,700
in 1997, and sold a total of 24,834 cars in Hungary, including 23,788 cars
made in Esztergom. Magyar Suzuki Rt had net sales revenue of HUF 87.154bn
in 1998.
Magyar Suzuki begins producing new small car
Budapest, January 3, 2000 (MTI-ECONEWS) - In line with plans, Magyar Suzuki
Rt has begun serial production of a new small car in Esztergom, PR director
Tamas Tihanyi told Econews on Monday. The new small car is the result of
joint development by Suzuki and General Motors. The Opel models are manufactured
with Opel engines in Poland and with Suzuki engines in Esztergom, as a
result of the two companies' partnership. The new Suzuki, which is based
on the Suzuki Wagon R+ model, is 10 cm longer and slightly lower and wider
than its predecessor. The car has a 1.3-l, 4-cylinder and 16-valve aluminium
engine. This is the same engine as the one used in Suzuki Jimny models,
Mr Tihanyi said. He declined to provide information on prices for the moment.
Mitsubishi building industrial park in Hungary
Budapest, December 16, 1999 (MTI-ECONEWS) - Mitsubishi Corporation will
build a USD 20m, 24-hectare industrial park in Ujhartyan (30km southeast
of Budapest), Teruyiki Nakazawa, president of the project manager MC Joint
Factory Magyarorszag Kft told the press in Budapest on Thursday. The project,
intended to help in the establishment of Japanese electronics and car parts
manufacturing SMEs will be jointly financed by the Tokyo headquarters and
the German subsidiary of Mitsubishi Corporation, as well as the International
Trade Development Hungary (ITDH). Facilities available in the park will
include factory buildings, warehouses, transport and marketing sections.
The first production hall on the premises is expected to be completed by
early 2000. In the first phase of the project, Mitsubishi will create three
factory halls, 4,000 square metres each, and an office block for a total
of USD 7m. Rent will be some USD 10,000 per 1,000 square metres per month.
To date, some 20 companies have signaled that they might be interested
in settling in the park. Though the facility is primarily aimed at Japanese
firms, companies from Singapore have also inquired. The first tenant, Nissho
Corporation will produce special foil for the electronics industry.
JCR improves Hungary's rating
Budapest, November 25, 1999 (MTI-ECONEWS) - The Japan Credit Rating Agency
(JCR) has improved Hungary's foreign currency long-term senior debts as
well as the National Bank of Hungary's (NBH) rating on its JPY denominated
bonds from BBB+ to A-. The rating improvement involved 16 different NBH
bonds with a total value of JPY 485bn. The agency reaffirmed the preliminary
rating of BBB+ on the long term bonds to be issue by the Republic of Hungary.
The decision was made in reponse to favorable economic trends as seen by
the agency. JCR noted that Hungary's macroeconomic indicators are stable
and that membership in Nato and aspirations to join the European Union
are also stabilising factors that improve Hungary's position. Although
Hungary's debt servicing burden is rather heavy, the balance remains positive,
the agency said. The fiscal deficit rose at a greater rate in the first
half of the year than expected, but a favourable trend is being recorded
in the second part of the year. The government's deficit target for 2000
depends largely on cuts in subsidies and stricter screening of social welfare
payments and tax rebates, JCR said. Although the trade deficit is increasing,
the ratio of exports as a percentage of imports is improving as Hungary
has secured a place in the European market. While the current account deficit
is expected to be within 4.5pc of the GDP, it is offset by non-debt capital
inflow, including FDI. The gross debt of the general government declined
to 60.3pc of the GDP and the gross foreign currency debt declined to 22.7pc
of the GDP, said the agency.
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