Coface survey shows rising risk in Hungary's vehicle manufacturing industry
Business risk in Hungary's vehicle manufacturing industry has risen, because of intense competition and weak prospects for growth on the global market, according to a survey by French credit insurance company Coface. Cost cutting vehicle makers are pressing the profitability of their suppliers, Coface said. Coface noted that trends on the global vehicle market usually show up in Hungary with a six- to twelve-month delay. It added that manufacturers of low-end vehicles are especially hard hit by a fall in demand for these models in the West. The vehicle manufacturing sector was one of 21 sectors surveyed by Coface in Hungary. Among the other sectors, Coface assessed risk in the construction sector to be the highest, and it noted that risk had increased in the textile industry.
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