Used Car Market Shifts to Higher Gear in Hungary

  • 20 May 2022 12:47 PM
  • Hungary Around the Clock
Used Car Market Shifts to Higher Gear in Hungary
Used car sales in Hungary were up 7.2% year-on-year to 69,113 in April, according to information from Datahouse.

In January-April the increase was 10% to 288,000 from 262,000 in the same period of last year.

Based on data for the first four months, transactions could exceed last year’s record of 817,000, vehicle listings site JóAutók forecast.

Supply problems continued to shift demand towards the used car market, the website says, adding that even imports are now increasingly unable to meet demand for high-quality used cars.

Market players expect monthly transactions to remain at 70,000, arguing that turnover is supported by rising household incomes, boosted by tax refunds and public-sector bonuses.

Supply narrowed in the first four months, as a number of companies postponed fleet renewals.

Price increases of 20-30% in some categories are not uncommon, JóAutók said.

The most popular models in the lower mid-range segment are the Opel Astra, Ford Focus, Volkswagen Golf and Skoda Octavia.

In the small car segment, Suzuki Swift remained the top pick, followed by the Opel Corsa and Volkswagen Polo.

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