AutoWallis has successfully completed the takeover of the largest BMW dealership in Slovenia, after the company had obtained the official approvals needed to close the transaction and the other terms of the contract had been met. With this step, AutoWallis has also entered the country’s car retail market, and it is currently investigating the opportunities for the sale of further brands in Slovenia alongside the established German manufacturer’s vehicles.
All conditions of the transaction have been met, so the ownership of the largest BMW dealership in Slovenia has been transferred to AutoWallis’s subsidiary, Wallis Motor Ljubljana. The closure of the acquisition announced in June required the obtaining of approvals (primarily from the competition authority). These all have been obtained, and all other terms of the contract were also met, as of this day. Regarding the closure of the transaction, Gábor Ormosy, CEO of AutoWallis, said that by taking over the only BMW dealership in the Slovenian capital, AutoWallis had also entered the country’s car retail market, thus further strengthening its presence in the Central and Eastern European region. The group is engaged in the retail and wholesale of vehicles, parts, and accessories, in repair and maintenance services, as well as in short- and long-term vehicle rentals in 14 countries of the region, and it has already been present in Slovenia – with Wallis Automotive Europe being the exclusive authorized representative of the Jaguar and Land Rover brands there –, where it will soon start the wholesale of the Opel brand as well, following the approval of the relevant competition authorities, similarly to Croatia, Bosnia and Herzegovina, and Hungary. The largest BMW dealership in Ljubljana, and also in Slovenia, has been in operation since 2009. In addition to selling and servicing used and new BMW vehicles, Wallis Motor Ljubljana is also authorized to provide after-sales services to MINI vehicles. Gábor Ormosy added that with the taking over of the Ljubljana BMW dealership, AutoWallis appeared specifically in the international retail market for the first time, fulfilling an important element of its strategy announced last year. He explained that they intended to improve sales in Ljubljana building on their experience gained over the past decades and the capital strength of AutoWallis, and that their plans included engaging in the retail of additional vehicle brands in the Slovenian market. Péter Antal,board member of AutoWallis and managing director of Wallis Motor emphasized that their aim was to improve the sales results in the Ljubljana dealership, while increasing the market share of BMW in the country. It is also a priority that the improvement of retail trade increases the revenues from the automotive services business unit, which is essential for profitability as well. Péter Antal pointed out that the growth potential and economic indicators of the Slovenian market are similarly favorable as those of the other countries where AutoWallis operates. The performance of the Slovenian economy is above the EU average: between 2014 and 2016, the average annual growth was 2.7%, while the GDP increased by 4.8%, 4.1%, and 2.4% in 2017, 2018, and 2019, respectively. Slovenia’s GDP per capita was USD 39,000 las year, which is 16.3% higher than that of Hungary, reflecting a favorable purchasing power. Over the past years, the number of new vehicles sold has continually increased: 50,091 new vehicles were registered in 2012, and 73,452 in 2019. BMW is a market leader among premium brands in the Slovenian market. In 2019, 1,560 new BMW vehicles were registered, 742 of these in Ljubljana and its vicinity.