Yesterday (18 CZK, -2,17%) Auto informed that it opened another branch in Hungary, in Gyor. The branch for the time being will operate only as car purchasing centre.
Our view: Car sourcing in Hungary, where used cars import is very difficult, is one of the key problems and the new branch could help in this respect. Overall Auto has now 9 branches in Hungary including 6 selling and buying branches and 3 buying only centers. For 2008 the company plans to transform one or two buying branches (Debrecen and Nyiregyhaza) into regular sales and buying car centers.