Kia Leads Hungary EV market

Automotive

Image by Mike Mareen / Shutterstock.com

South Korea's Kia led Hungary's electric vehicle market in the first half of the year, selling 321 cars to give it a 12.3% market share, the head of Kia Hungary said at a press conference on Thursday, according to a report by state news wire MTI.

Norbert Nagy said the share of EVs within Kia Hungary's sales is on the rise and accounted for 13% of the total last year.

New Kia sales reached 6,176 by August. Kia Hungary targets 8,500 sales for the full year.

Fleet sales account for around 70% of Kia sales at present.

Kia is in fourth place on the market for sales to private individuals with an 8.8% market share, and in fifth place on the market for fleet sales, with a 7.1% market share.

Nagy augured a "strong decline" in demand in the coming months. Next year, the total number of new passenger car registrations could fall to 70% of the projected 115,000 sales for 2022, he added.

Deteriorating economic conditions on the buyers' side and reduced supply on the sellers' side is expected to result in a "significant drop" in sales, especially in the small and mid-size vehicle category, he added.

Kia vehicles are sold at 27 locations in Hungary and serviced at 30.

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