AutoWallis selected to become Opel’s importer in Hungary as well

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Following three other countries in the region, Opel has chosen AutoWallis to be the importer of the iconic German brand in Hungary as well, enabling the Budapest Stock Exchange listed group to continue increasing its revenue and new vehicle sales, in a further significant step towards realizing its strategic goals.

The German vehicle manufacturer Opel has chosen Wallis Automotive Europe (WAE Kft.), a subsidiary of AutoWallis, to be the importer of the Opel brand in Hungary as well, following its similar decision in July regarding Bosnia and Herzegovina, Croatia and Slovenia. As with the other three countries, the closing of the transaction is subject to regulatory approval, following which WAE shall overtake all employees involved in the importer activities in all countries concerned. The strategic importance and scale of the Hungarian market is well reflected by the nearly 12,500 Opel cars and vans sold here in 2019 (this figure was 11,700 vehicles for the other three countries combined).

Gábor Ormosy, CEO of AutoWallis, declared that the importer cooperation with Opel, now covering four countries, to be one of the most significant milestones in the history of the company. Noting that 24,000 Opels were retailed all together last year in the countries concerned, he predicted that AutoWallis group’s sales tally should already show a substantial increase in 2021. The company, which is the distributor of 15 vehicle brands, is thus one step closer to realizing its strategic objectives, and doubling its revenue by 2029, becoming a major mobility service provider of the Central and Eastern European region. Andrew Prest, the Managing Director of WAE added that the agreement with Opel, now covering four countries, demonstrates that the company is a trusted partner for the most prominent global automotive brands. Opel is highly respected in Hungary, and nearly every seventh vehicle on the Hungarian roads carries the well-known lightning logo. He stressed that the cooperation agreement has been concluded at a point in time when Opel’s model range is its most attractive, environmentally friendly and technologically advanced ever. This agreement propels AutoWallis further along the path of dynamic growth, since it will be the sixth major acquisition in Hungary and the region this year. (These include acquisition of the largest Hungarian Opel and KIA dealership; beginning the distribution of Jaguar and Land Rover models in Hungary; the planned takeover of the largest Slovenian BMW dealership; equity investment in Iniciál Autóház, a major company of the Western Hungarian region involved in the sales and servicing of seven significant vehicle brands and the anticipated acquisition of the importer rights of Opel in Bosnia and Herzegovina, Croatia and Slovenia.)