Magyar Suzuki further boosts its business performance
Exceeding previous year’s results by the sales of 15,161 units, Magyar Suzuki Corporation kept its market leader position and increased market share to 13,04% at the Hungarian passenger car market in 2017. The company sold altogether 178,624 units of its own produced vehicles Vitara and SCROSS, and sales covered 13,211 cars (wholesales) for domestic and 165,413 cars for the export markets. Vitara, the Esztergom made flag-ship model with 9,417 units sold at the domestic market has been the engine of the success, while the company achieved a 212% rise in the sales of imported models with 3107 units sold. Magyar Suzuki Corporation’s total net sales revenue reached EUR 2101.2 million by the end of fiscal year 2017.
Expansion of the European new passenger car market brought increased business potentials to Suzuki in 2017. While European new passenger car market expanded by 3,4%, East-Central-European region realized a high-speed increase by 12,8% last year. Suzuki Group took an advantage of the favorable market conditions, and with 233,357 units sales raised its share by 15,4%, representing a total of 233,357 units sold in the continent.
In Hungary the new passenger car market experienced a significant 11,67% increase in 2017 representing 116,265 units of sales, where Magyar Suzuki Corporation reached 13,04% market share by 15,161 sold units, making the company a domestic market leader.
The Esztergom made flag-ship model Vitara has been boosting the outstanding performance: the company sold 9,417 units at the domestic market in 2017, which is 40% more than last year. The sales accounted 3,767 units of SX4 S-Cross.
Currently at Magyar Suzuki’s factory SX4 S-Cross and Vitara are in production, latter limited version issue also enjoyed a high market demand in middle of 2017. Beside the growing number of private customers. Suzuki models are becoming more popular among fleet customers as well, resulting in a stronger fleet sales performance year by year.
In 2017 the model scale and performance were reinforced by imported models as well. Swift, Ignis, Baleno, Jimny and Celerio were the most liked among customers. Magyar Suzuki Corporation achieved a remarkable growth in the sales of the imported models too, while in 2016 the company sold 1,868 units, in 2017 the sales jumped to 7,167 units.
Despite the production of the Swift model was transferred from Hungary, and the new generation model is supplied by import, the company performed successfully at the export markets as well: in 2017 the company sold 178,624 vehicles produced in Esztergom, out of these 13,211 units for domestic and 165,413 units for EU and other countries. Export sales consists of 112,808 units of Vitara with 68,2%, 52,433 units of SX4 S-Cross with 31,7% and 172 units of Swift.
Business opportunities broadened remarkably at the motorcycle and outboard engine markets as well. Motorcycle sales increased by 20% while outboard engine business grew over 10%, making the brand a market leader with its impressive share of 47,3%.
In financial year 2017 Magyar Suzuki Corporation’s total net sales revenue amounted to EUR 2101.8 million, including EUR 1.925 million of own production car sales. The EUR 151 million, domestic sales figure represents 7,86% revenue share, while EU and export sales constituted 91,7% of the total revenue with EUR 1.773 million. The remaining amount covered the import cars, motorcycles, outboard engines, spare parts and raw materials.