Magyar Suzuki Zrt. achieved remarkable success in the 2024 financial year, regaining its market leadership in the Hungarian new car market. With impressive growth of 29.3 percent compared to the previous year and 15,732 vehicles sold, the Japanese car manufacturer secured a market share of 12.94 percent out of a total of 121,607 new registrations in Hungary. This marks the 21st time the company has been at the top since it started mass production in Esztergom in 1992, reports Világgazdaság.
Masato Atsumi, CEO of Magyar Suzuki, emphasized that despite numerous challenges, such as geopolitical changes and natural disasters, the supply chain remained stable and costs were reduced through process optimization. He stressed that both the company’s production and sales remained stable, allowing Suzuki to maintain its important role in the Hungarian economy.
A highlight of the year was the production of the four millionth Suzuki vehicle in Esztergom in February 2024 – a GLX Hybrid Vitara. Vehicles have been successfully produced in Esztergom for 32 years, with the S-Cross and Vitara models playing a key role in the company’s success on the domestic market. These two models took the top two spots in the Hungarian sales charts in their respective segments.
2024 Suzuki Vitara. Photo: Wikipedia
A total of 111,492 cars were manufactured in Esztergom in 2024, 86.7 percent of which were exported to 123 countries on five continents.
Suzuki is also strongly committed to sustainability. In February, the company’s own solar park was commissioned in Esztergom, which is expected to reduce the company’s costs by almost HUF 270 million (EUR 671,000) annually and cut CO2 emissions by over 1,700 tons. This is an important step toward the company’s goal of achieving climate neutrality for its plants and product portfolio by 2050.
The launch of the eVitara, Suzuki’s first all-electric passenger car, unveiled by the parent company in November, also marks the beginning of a new era for Magyar Suzuki.
Although the focus remains on fuel-efficient hybrid models, that have been sold exclusively on EU markets since 2020, the company is preparing for the successful launch of the new electric model on the domestic market.
Suzuki eVitara. Photo: Wikipedia
The financial results show net sales from total sales of EUR 2,245.6 million in the 2024 fiscal year. Investments amounted to EUR 65.3 million, which represents an increase over the previous year.
The motorcycle and marine engine divisions also contributed to the success, with Magyar Suzuki maintaining a leading market position in Hungary in both segments.
Despite a highly competitive environment, Suzuki remains confident that the knowledge and experience the company offers will enable it to respond effectively to the changing demands of the automotive sector.
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Magyar Suzuki Zrt. was the first foreign-based car manufacturer to start operations in Esztergom in 1991.Continue reading
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