Hungary 2024. Auto Market Slightly Drops In January (-3.3%)

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Hungarian Auto Market slightly falls in 2024. Total sales in January totalled 8,040 units (-3.3%). Suzuki becomes new market leader booming 157.6%.

Market Trend and Outlook

The Hungarian auto market in January fell 3.3%, with figures at 8,040.

Looking at cumulative data up to January 2024 brand-wise, Suzuki gains leadership with 1,816 sales (+157.6%) followed closely by the runner up Toyota -down 1 spot- with 866 units sold (-40.2%).

In 3rd place ranks Skoda -up 4 spots- with 799 sales (+70.7%), in front of Volkswagen -down 2 spots- at 577 (+5.3%), Kia -down 2 spots- at 402 (-39.5%) and BMW -down 2 spots-at 380 sales (-8.0%).

Dacia loses 2 spots into 7th position with 331 sales (-40.9%), followed by Mercedes -up 1 spots- at 323 sales (-4.7%), Ford -down 5 spots- at 272 (-54.4%) and Volvo -up 1 spot- closing the Top 10 with 225 new car registrations (-10.7%).

Looking at specific models the Skoda Octavia  becomes the new best seller, while being up 178.5% in year-on-year sales and 8 spots in the rankings, followed by previous year’s leader the Suzuki SX4 S-Cross, up 15.6%.

Medium-Term Market Trend

The last decade has been exceptional for the Hungarian car market. From 2010 to 2012 the Hungarian market moved up and down between a low of 43,474 sales in 2010 and 56,517 sales in 2011. In 2013 started a 7 year uptrend, with the market reaching 6 new all-time highs until a peak in 2019 at 157,790.

The pandemic arrived in 2020 causing the Hungarian car market to fall 19% down to 128,030 new car registrations.

The following year sales fell further reaching 121,545 by the end of 2021. In 2022 volume dropped even more, reaching 111,043 cumulative sales, an 8.8% loss compared to the prior year

In 2023 the market fell 2.9%, with figures at 107,802.

Tables with sales figures

In the tables below we report sales for top 10 Brands and top 10 Models.

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