Hungarian Auto Market increasing in 2024. Total sales in February totaled 14,369 units (+47.4%). Suzuki becomes the new market leader booming 96.4%.
Market Trend and Outlook
The Hungarian auto market in February boomed 47.4%, with figures at 14,369. YTD sales up to 22,409 while being up by 24.1%.
Looking at cumulative data up to February 2024 brand-wise, Suzuki gains leadership with 2,637 sales (+96.4%) followed closely by the runner-up Toyota -down 1 spot- with 2,410 units sold (-16.1%).
In 3rd place ranks Skoda -up 4 spots- with 2,023 sales (+82.4%), in front of Dacia -up 2 spots- at 1,258 (+5.3%), Mercedes -up 5 spots- at 1,228 (+72.0%) and Volkswagen -down 4 spots-at 1,171 sales (-21.9%).
Ford loses 3 spots into 7th position with 1,034 sales (-22.6%), followed by Kia -down 3 spots- at 1,026 sales (-21.0%), BMW -down 1 spot- at 940 (+2.0%) and Volvo -up 4 spots- closing the Top 10 with 855 new car registrations (+87.5%).
Looking at specific models the Skoda Octavia becomes the new best seller, while being up 157.9% in year-on-year sales and 8 spots in the rankings, followed by the previous year’s leader the Suzuki Vitara, up 160.2% and 6 spots.
Medium-Term Market Trend
The last decade has been exceptional for the Hungarian car market. From 2010 to 2012 the Hungarian market moved up and down between a low of 43,474 sales in 2010 and 56,517 sales in 2011. In 2013 started a 7 year uptrend, with the market reaching 6 new all-time highs until a peak in 2019 at 157,790.
The pandemic arrived in 2020 causing the Hungarian car market to fall 19% down to 128,030 new car registrations.
The following year sales fell further reaching 121,545 by the end of 2021. In 2022 volume dropped even more, reaching 111,043 cumulative sales, an 8.8% loss compared to the prior year
In 2023 the market fell 2.9%, with figures at 107,802.
Tables with sales figures
In the tables below we report sales for top 10 Brands and top 10 Models.
