Hungarian market decreased 74% since 2005
- Hungarian car market is one of those who declined the most in Europe since the 2008 financial crisis. This market fell from 173,000 new car sales in 2007 down to 53,000 vehicle sales in 2012, a drop in sales of 70% in 5 years, and even 74% in 7 years (between 2005 and 2012).
- The Hungarian market had reached a peak in 2004-2005, when Hungary entered the European Union. But the market quickly turned upside down. It collapsed between 2005 and 2010. The bad economic environment combined with an influx of used vehicles from Europe has strongly destabilized the entire new home market.
- The Hungarian market fell down in 2012 to a level reached in the 80s, offsetting the growth of years 1995-2005, when the market had doubled.
- The trend should slowly reverse in the years 2013-2017.
- The VW Group is the Hungarian market leader ahead of Ford and GM.
Data source: File #55 - Registrations in the World by makes