Car dealers foresee two-digit growth in sales

Automotive

Importers to Hungary expect a 13% increase in sales of new cars and an 11% increase in sales of used cars, primarily due to improving purchase power and the increasing number of replacements related to the aging of the car fleet, second hand car portal hasznaltauto.hu told Hungarian news agency MTI today.

The portal’s survey involved 16 vehicle importers, which represent more than 95% of the market for new cars. According to the surveyed importers, sales of new passenger cars could rise to 76,000 from last year’s 67,500, however, the 20% increase experience last year is unlikely to repeat itself this year.

Half of the interviewees said they expected a bigger increase in the segment of sales to private customers and the other 50% said they projected a bigger rise in the area of corporate and government fleets, the portal said.

The survey also included 18 of the largest second hand car dealers, who foresee an 11% increase in sales in 2015. The portal noted that the average age of passenger cars in Hungary exceeded 13 years last year.

Imports of used passenger cars rose by 37% to 97,000 last year. Almost all dealers agreed, hasznaltauto.hu said, that the dynamic increase in imports will continue in 2015, and predicts about a 21% growth or imports of about 118,000 used cars this year.

ADVERTISEMENT

Purchasing Managers' Index rises Analysis

Purchasing Managers' Index rises

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.