Hungary. Market grew in double-digits for the 6th year in a row

Hungarian Vehicles Market

Hungarian Vehicles Market signed the 9th consecutive year of growth. Indeed, the Full-year ended at 157.790, up 15.6% from the previous year. Suzuki reached 16.3% of market share, while Skoda and Opel ended respectively at 8% and 7.1%.

Economic Environment

Hungarian’s economy gained some speed in the third quarter of 2019, after expanding at the slowest pace since Q1 2018 in the second quarter. A more upbeat external sector and increased public expenditure were behind Q3’s pick-up. Exports soared amid an upbeat manufacturing sector, which has so far defied the faltering European economy, while government spending rebounded strongly.

Meanwhile, household spending eased somewhat in Q3 amid still-downbeat consumer sentiment, while fixed investment also lost steam, although it remained healthy overall. Turning to Q4, economic activity likely moderated, as suggested by weaker industrial production growth in October–November compared to Q3 due to a slowdown in the manufacture of transport equipment. Moreover, economic sentiment deteriorated in Q4, sliding to an over three-year low in December on a marked drop in business confidence.

Market Trend

Hungarian vehicles market was heavily hit by the 2008 crisis losing 75% of volumes. However, in the recent years a strong recovery allowed the light vehicles market to double sales from the 63.931 in the 2012 to 136.208 in the 2017, albeit light commercial vehicles declined for the end of a fiscal stimulus introduced the year before.

In 2018 the market kept the impressive run, with another astonishing 17.4% year-on-year improvement.

In 2019, according to data released by the Hungarian Associations of Car Manufacturers, marked the 6th consecutive annual double-digit growth. Indeed, the Full-year ended at 157.790, up 15.6% from the previous year.

Brand-wise, Suzuki leads the ranking since 2016, growing from 3.7% of share in 2010 to 16.3% in 2019. In second place Ford with a stable 10%, followed by Skoda and Opel, which have both lost over 2 points of share in the last 5 years, falling respectively at 8% and 7.1% in 2019.

Tables with sales figures

In the tables below we report sales for all Brands and top 10 Manufacturers Group.

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