The AutoWallis Group’s sales of new and used vehicles in the retail trade increased above the market average in the first quarter

The AutoWallis Group achieved sales revenue of HUF 89.1 billion in the first three months of 2024, which is 11 percent less than in the same period last year. The regionally dominant role of the Group is shown by the fact that more than half of its sales come from abroad, the proportion of which increased by 1.5 percent to 57 in the first quarter. The decline was caused by a 25 percent decrease in the sales of the Wholesale business to HUF 47.5 billion, the reason for which is predominantly technical in nature, as a result of the base effect of temporarily exceptionally high sales in the last quarter of 2022 and the first quarter of 2023 of the base period, as well as the Suez Canal in the first quarter of this year , and due to the situation in the Red Sea, shipping deadlines increased by almost a month are explained together, so their effect can be considered temporary. As previously indicated by AutoWallis, the increased registration numbers in the last year period were due to postponed purchases and a high backlog due to the effects of COVID, chip shortages and global delivery difficulties. Today, these one-off effects have been balanced, sales have normalized, are more evenly distributed, and have entered a more predictable channel.

Gábor Ormosy, the CEO of AutoWallis, said in this regard that the sales revenue for the first quarter is in line with their expectations, and the vehicle sales results achieved by the Group are in line with an increasing trend. He pointed out that in the updated strategy published in May, the Group is planning sales revenue of HUF 750 billion and EBITDA profit of HUF 40 billion by 2028, thus doubling its 2023 results for both indicators.