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Hungary’s New Car Market Fell 54.5% In May

• 22 Jun 2020 8:02 AM
• Budapest Business Journal

Due to the coronavirus epidemic, the number of new passenger cars placed on the market in the European Union fell sharply in May, by more than 50%, rising to 54.5% in Hungary, says azuzlet.hu.

According to a report by the Association of European Automobile Manufacturers (ACEA) 581,161 passenger cars were registered in the 27 member states of the European Union in May, 52.3% less than a year earlier.


In better news, capacity has risen to 76.3% of the pre-COVID level in April from 55.1% in March. In the months leading up to the global outbreak, year-on-year declines of 7.4% in February and 7.5% in January were measured.

In the first five months of the year, 3,331,715 new cars were handed over to their owners in the EU, 41.56% less than a year earlier.

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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.

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