Hungary Attracts International Tyre Companies

Hungary is one of the few Eastern European countries in which there is no traditional automobile industry. Among the few well-known companies the bus manufacturer Ikarus (one of Eastern European market leaders) is the most commonly known. Nevertheless since the early 1990s some Western manufacturers have installed production or assembly plants there, namely General Motors, Suzuki and Audi.

(Audi Hungary Kft is actually the second biggest company in the Hugarian economy). These foreign investments were partly induced by tax exemptions and other incentives like tax-free import of parts, etc. Last year 136,130 cars were produced in Hungary and new car registrations almost reached 200,000 units.