According to the report, there are approximately 12,000 car dealerships in Hungary, and authorities launch some 500 liquidation proceedings against them annually. The report noted that bankruptcy in the car dealership sector is 1.11% higher than the average among all other companies in Hungary.
Data from JATO Dynamics revealed that the number of cars sold increased by 2%, while the number of small commercial vehicles sold decreased by 11% in May of this year, as compared to data from the same period last year. The majority of new cars put in service (75) were company cars.
As reported by Bisnode, during the financial crisis, 42,0000 cars were sold, while that number increased dramatically to 492,0000 in 2014 and is expected to grow to approximately 530,0000 in the first quarter of 2015.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
