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Report: Hungarian used car market grows 70%

Automotive

The Hungarian used car market grew 70% in January-February as compared to the same period last year, according to data compiled by AAA Auto, a press release issued by the company today reveals.

AAA Auto noted that more cars are being made available for sale in Hungary, as many as 113,300, and advertised prices have fallen over the past year, by 9.6% on average to HUF1,790,941. Meanwhile, the age of the vehicles being sold has increased by 12.6% on average to 11.6 years and the mileage is up 10.6% on average at 178,956, compared to the same period last year. 

“Even if we consider the seasonal effect of the rise in the number of vehicles offered in December, through traditional discounts offered by dealers before year-end, which generally carry over into the following January, the increase in the size of Hungary’s used car market over the last year is striking,” said CEO of AAA AUTO Karolína Topolová.

The real-time monitoring system used by AAA Auto tracks movements in used car prices, the number of vehicles being advertised as well as other trends across the markets in which it operates, according to the press release. Through this, the company is able to “accurately price and evaluate the used cars on offer, and target the best prices the market and its business model will bear.” It also provides data on the Hungarian used car market in comparison to neighboring countries, the press release added.

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