Hungary 2017. Sales up 21% sustained by GDP growth

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Hungary cars market
Fiat-500-2016

Hungary cars figure ends the 2017 with a oustanding +21% over doubling sales in the last five years. Demand is sustained by a spectacular GDP increase and should continues in 2018. Suzuki is leader ahead of Ford and Skoda. Vitara the best seller.

Hungarian’s economy picked up steam in Q3. Annual GDP growth accelerated from 3.3% in Q2 to 3.6%. While a breakdown by components is not yet available, the acceleration was most likely buttressed by the domestic economy. Consumer and business confidence readings throughout the third quarter were extremely elevated due to the rapid rise in disposable incomes, declining unemployment, loose monetary conditions and inflows of EU investment funds. The far-reaching fiscal stimulus measures implemented by the government, together with the resilience of the economic drivers, should guarantee that the momentum in growth will carry through the final quarter of the year.

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 last year for the end of fiscal stimulus.

Approaching the new year, all indicators are still quite positive, with domestic demand sustained by a strong economic expansion and the 2018 figures are foreseen between 144.000 and 150.000 units.

During the 2017, according to data released by the MGSZ, the Hungarian Associations of Car Manufacturers, started the first half car passenger’s sales up improved 19.0% in the first half and 23% in the second, with full year sales at 116.267 (+2.5%). Light commercial vehicles sales have been 19.941 (-6.5%).

At brand-wise, Suzuki maintained its rule as leader, selling 15.161 cars (+34.6%) gaining market share at 13.0% and keeping the followers at save gap.

Ford was second with 11.372 sales (+19.5%) followed by Skoda with 10.523 (+20.3%), Opel with 10.189 (+8.7%) and Toyota with 8.136 (+47.7%).

At model wise, the leader was again the local made Suzuki Vitara with 8.786 sales  (+34.4%) and a wide gap over the second, the Skoda Octavia with 6.105 (+15.6%) and Dacia Duster with 4.018 (+48.3%).

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Tables with sales figures

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

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