H1 EV Orders up Despite Expected Downturn

Automotive

The number of newly sold electric cars in Hungary exceeded 2,918, in the first six months of 2023, according to portfolio.hu. 

This represents an increase of nearly 29% compared to the same period of the previous year. The volume on the market has never been so high in half a year, which can partly be attributed to global trends and the growing interest in domestic electric cars.

At the same time, this optimistic picture is also shaded by trends in the opposite direction. The number of orders for new electric cars has dropped significantly this year, for several brands, and distributors are talking about a decline of up to 50% or more.

The roots of the problem can be found in several directions. One is the price increase, which has become particularly noticeable in the electric car market. In addition, there is currently no government support for buyers or companies, and the high interest rate environment as well as inflation make potential buyers unsettled.

 

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