New Car Registrations Fall 9% in Jan-Sep

Automotive

New passenger car registrations in Hungary fell 9.3% year-on-year to 85,769 in January-September, the Hungarian Association of Vehicle Importers (MGE) said on Monday, citing figures compiled by DataHouse.

The number of imported used cars rose to 99,292 during the period but has been down from a year earlier since June, primarily due to the forint weakening.

Sales of fully electric cars jumped 47.8% to 3,437 and plug-in-hybrid sales increased 11.4% to 3,572.

Sales of light commercial vehicles dropped 19.3% to 14,050.

Heavy commercial vehicle sales rose 25.5% to 4,171.

MGE attributed the decline of the vehicle market to unfavorable international conditions. The war in Ukraine has led to shortages hampering production, there are disruptions to the supply chain of spare parts, delivery times have grown longer, and energy and vehicle fuel prices have soared in Europe, it said, also noting the effects of inflation and the weakening of the forint.

At the beginning of the year, before the war in Ukraine, MGE projected new passenger car registrations will edge up to 125,000 this year.

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