Hungary "Motorization Rate" 3rd Lowest In EU

  • 15 Jun 2020 8:41 AM
  • Budapest Business Journal
Hungary "Motorization Rate" 3rd Lowest In EU
Among EU member states, Hungary recorded the third-lowest "motorization rate" in 2018, with only 373 passenger cars per 1,000 inhabitants, according to data by statistical agency Eurostat.

The lowest rate was recorded in Romania (332 cars/1,000 inhabitants), followed by Latvia (369).

On the other end of the spectrum, Luxembourg recorded the highest rate with 676 cars per 1,000 inhabitants. Luxembourg was followed by Italy (646), with Cyprus and Finland (both 629) in joint third-place.

The highest number of registered passenger cars (47 million) was recorded in Germany, followed by Italy (39 mln) and France (32 mln).

Eurostat notes that between 2014 and 2018, there was strong growth in the number of registered passenger cars in several member states. The highest growth was recorded in Romania (31%), followed by Czechia, Slovakia and Lithuania (each 19%), Hungary and Portugal (both 17%) and Cyprus (15%).

The member states with the highest shares of "old" passenger cars (20 years or older) were Poland (36.5%), Estonia (29.6%), Finland (25.2%), Romania (21.4%) and Malta (20.8%). The share of "old" cars stood at 14% in Hungary.

On the other hand, the shares of the "young" passenger cars (less than two years old) were highest in Ireland (29.2%), Luxembourg (23.8%), Denmark (23.3%), and Belgium (23.1%). The share of "young" cars stood at just below 8% in Hungary, according to Eurostat.

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Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.