Magyar Suzuki Corporation increased its sales revenue by 26 percent in export markets

In 2022, Magyar Suzuki Corporation produced a total of 129 022 vehicles, and sold 128 536 cars, of which 124 561 rolled off the production line in Esztergom. 88 percent of total sales (113 817 units) were exported to 123 countries. Based on the last year’s results, the company has dominated the domestic new car sales for the seventh year in a row with a 12.43 percent share (13,859 registered new cars). The total assets of Magyar Suzuki Corporation passed the 1 billion EUR for the first time in fiscal year 2022 and returned to pre-pandemic levels in terms of sales revenew, with over 2 billion EUR. Despite all the above, profits halved last year due to a steep rise in energy, raw material and component prices. Magyar Suzuki Corporation aims to remain actively involved in the parent company's international projects, including the production of electric models.

The profit was 22.7 million EUR
Magyar Suzuki closed the year with a sales income of 2,144.9 million EUR. The Esztergom-based manufacturer increased its sales income in Hungary by 2.3 percent (271 million EUR in 2022) and its sales revenue from export sales by 26 percent (1,873.9 million EUR in 2022) compared to the previous year. As before, in 2022 Magyar Suzuki Corporation did not pay dividends either and reserved the profit (22.7 million EUR).
In 2022, the company in Esztergom made investments of 39.2 million EUR on acquisition basis.
In last year's economic situation, the vehicle manufacturer continued to optimize its costs, improve its operations and internal processes. These innovations have saved the company 3.3 billion HUF over the past 13 years.

More than 76 percent of production was hybrid
The Esztergom-based company had a successful year in 2022 for several reasons. The 32-year-old company's plant produces two models, Vitara and S-CROSS, which they are also available in mild hybrid and hybrid versions. The figures speak for themselves: for the seventh year in a row, Magyar Suzuki has become the market leader in domestic new car sales with a market share of 12.43 percent, while export sales have increased by 26 percent. Hybrid vehicles accounted for 76.63 percent of production (98,876 units).

In 2022, a total of more than 129,000 vehicles rolled off the production line in Esztergom, and a total of 113,817 models were delivered for export. While the Vitara was the most popular car in foreign markets (73 417 units, S-CROSS 38 020 units), the S-CROSS was the best-selling car in Hungary, with 7 338 units sold (Vitara 5 786 units). The success of the S-CROSS continues this year, as the professional jury voted it the winner of the Hungarian Car of the Year competition, which was held in Hungary, where it was awarded the public prize and also won the title of the best car of the year out of 22 brands and 39 cars.

Magyar Suzuki Corporation, which has re-launched passenger car production in Hungary, has previously served a higher-than-average proportion of private customers, but in recent years it
has also significantly increased its fleet sales. Of the 13,859 Suzuki cars registered in 2022, 49 percent, or 6,800 cars, were sold to corporate and institutional customers, putting the brand in
fourth place on the fleet market. Of the models not produced in Esztergom, but also sold in Hungary,

668 units of the Swift, 267 units of the Ignis, 214 units of the Swace station wagon,14 units of the Across SUVs chargeable from the electric network and 520 units of Jimny were sold in Hungary in 2022.

Last autumn, the Suzuki Group introduced the Suzuki Connect, which is available as an option for the first time in S-CROSS. The service is provided by Magyar Suzuki throughout Europe.

28 tons less plastic waste
Magyar Suzuki Corporation also strengthened its position in the outboard engine category. The marine engine business has been selling outboard engines since 1999 and for the last six years has been serving 13 partner countries as the headquarters for the Central and Eastern European region. The division, with ten sales points nationwide, sold a total of 727 outboard engines in the country. Suzuki is also a specialist in four-stroke outboard engines and is at the forefront of innovative solutions. Its products have won numerous professional awards throughout its history. In October last year, the four millionth unit, a 350 hp top-of-the-range model, was completed in Japan. The environment is also an important aspect: the Suzuki Group has reduced the amount of plastic used in the packaging of marine products by 28 tons between 2020 and 2022.

Results of our motorcycle division
The motorcycle business also plays an important role in Magyar Suzuki Corporation's life: in addition to two-wheeled vehicles, 14 Hungarian dealers also sell original spare parts, lubricants, accessories and motorcycle accessories. In 2022, the Hungarian motorcycle market expanded by 12.9 percent, with Magyar Suzuki Corporation selling a total of 313 models, giving it a 6 percent market share.

In 2022 an average of 12 percent, in 2023 an average of 20 percent wage increase
Magyar Suzuki Corporation, in response to the economic situation, introduced a productivity bonus last year in addition to the shift premium, in order to maintain wage competitiveness, in addition to the average wage increase of 12%, which was extended to office staff from September. And at the end of the year, management and the Works Council agreed an average performance-related wage increase of 20 percent by 2023, with a total of one and a half months' bonus payments throughout the year. The amount spent on fringe benefits has also increased. Thanks to the extended fringe benefits and family support services, the Esztergom-based manufacturing company was awarded the Family Friendly Workplace award in May this year.

Will electric models be produced in Esztergom?
Achieving and developing a carbon neutral society is a key part of Suzuki Motor Corporation's growth strategy. In fiscal year 2024 (by March 31, 2025), the introduction of pure electric cars in Europe will begin, with a total of five models planned by 2030. Electric Suzuki will be available on the Hungarian market from March 31, 2025 at the latest. The parent company's management has already indicated that it will continue to rely on Magyar Suzuki Corporation as its sole

European base. The Esztergom-based company is currently studying the production needs and processes of the new technology, with the involvement of Suzuki Motor Corporation.