AutoWallis reports revenue decline amid CEE market recovery

AutoWallis reported a decline in its first-half financial performance, with revenue falling 7% to 219.9 billion forints and EBITDA dropping 31%. The company attributed these results to a challenging market environment, including the performance of traditional brands and the high one-time costs associated with introducing new Chinese brands to the market. While the wholesale division saw a 17% decline, the mobility services sector grew by 25%, driven by car-sharing and rental services.

According to the CEE Automotive Report released by AutoWallis, the Central and Eastern European (CEE) automotive market is recovering faster than the broader European Union. In the first half of the year, new car sales in the CEE region grew by 8.9%, surpassing 2019 levels, while EU registrations rose by 5.7%. Within the region, Hungary saw a 13.3% increase in passenger car registrations, following significant growth in Slovenia and Austria. Conversely, the Slovakian market experienced a 3.6% decrease.