The Esztergom plant of Magyar Suzuki Ltd. manufactured 129,022 cars in 2022, representing a 20 per cent annual growth. The net sales revenue increased by 22.3 per cent to 2.144 billion euros, as announced by the company’s executives at a press conference in Budapest on Thursday, 15 June.
The Deputy CEO of the company Róbert Krisztián added that due to disruptions in logistics and supply chains, primarily due to semiconductor shortages, and significant increases in energy and raw material prices, Magyar Suzuki Ltd.’s profit was halved compared to the previous year, amounting to 22.7 million euros. He mentioned that nearly 88 per cent of total sales, almost 114,000 cars, were exported to 123 countries. He also noted that the Esztergom plant manufactures the Suzuki Vitara and S-Cross models, with the former being popular abroad and the latter being well-received in Hungary.
He emphasised that for the seventh consecutive year, the company maintained a leading position in Hungary’s new car sales, achieving a market share of nearly 12.5 per cent with approximately 14,000 registered new cars in 2022. This means that every eighth new car in the country bore the Suzuki logo. He further highlighted that out of the approximately 14,000 Suzukis registered last year, nearly 6,800 were sold to corporate and institutional customers, placing the brand in fourth place among fleet sales.
Regarding this year, the deputy CEO noted that experts are closely monitoring and analysing the market situation, anticipating a 5-6 per cent decline in the total new car market in Hungary compared to 2022. However, the company is hopeful that inflation and interest rate reductions in the second half of the year will stabilise the market enough for ‘new car sales to find their footing’ in Hungary. The Deputy CEO stated that
there is a continuous high demand globally for the models manufactured in Esztergom,
resulting in an increase of production capacity through accelerated manufacturing lines and increased workforce. This year, the plans are to manufacture 168,000 cars at Magyar Suzuki Ltd., nearly a 50 per cent increase in production volume compared to 2021.
Operational Director responsible for HR, finance, and IT ldikó Gyurján reported that the workforce at Magyar Suzuki Ltd. currently stands at 3,200, with an increase of 400 employees between early 2022 and May 2023. Suzuki plans to hire an additional 178 workers until August–September this year. The company’s employment is based on three pillars: the company’s own staff, temporary labour, and employment of workers from third countries. Currently, the company works with 161 colleagues from India, who have been integrated into the company’s staff. This year, the plan is to hire 55 more people from the Philippines through a temporary employment agency. In response to a question, she mentioned that workers from third countries constitute 7–8 per cent of the workforce.
CEO of Magyar Suzuki Ltd. Atsumi Masato stated that Suzuki aims to operate with carbon-neutral plants and product portfolios worldwide by 2050. Responding to the continuous changes in the industry and customer demands, the Suzuki fully electric vehicles will soon be available globally. In the European market,
the brand’s first fully electric vehicle is expected to be introduced by 31 March 2025,
followed by four more models by 2030.
‘Our goal is to involve the Esztergom plant in the development and future production of new models…We are working to continue offering high-quality, safe, and affordable products and services,’ said the CEO. According to the statement issued on-site, Magyar Suzuki Ltd. was founded in 1991 and has remained the Japanese parent company’s only manufacturing unit in Europe. Thanks to its partners, suppliers, and a nationwide network of 78 brand dealers, the company contributes to the livelihood of approximately 10,000 employees.