Used car sales up 11.5% in first half

Automotive

The number of used cars sold in Hungary rose 11.5% year-on-year in the first half of 2017, used car dealer Das WeltAuto said in a press release issued Friday, as reported by online economic news portal hvg.hu. The rise is markedly less than the 26.5% increase in used car sales in 2016.

Hvg.hu reported that, despite the deceleration indicating a market approaching saturation, Hungary may yet see record sales of used cars in 2017, while noting that the average age of sold vehicles continues to rise.

Based on figures from Datahouse, Das WeltAuto revealed in the press release that a total of 332,562 used cars changed hands up to the end of June this year, an increase of 11.5% on the first half of 2016. This compares to growth of 26.5% in 2016 as a whole, and the peak in sales reached in 2005, when a total of 639,104 used cars were sold in Hungary.

Vehicle traders accounted for some 27.4% of the sales turnover in the first half of this year, the press release added.

Data show that 31% of trades were for lower and mid-category vehicles, 25.8% for small vehicles, and 15.5% for cars in the upper-mid category.

Opel once again headed the list of traded brands, with 45,742 used cars sold, followed by Suzuki (34,099) and Volkswagen (32,347).

Some 76% of traded used cars exceeded 10 years in age, while just 11.9% were less than five years old.

György Frank, brand manager at Das WeltAuto, was quoted as saying that despite the continuing high turnover, the pool of vehicles is not being refreshed as the average age of vehicles continues to steadily rise, now touching 14 years old on average. This, he added, clouds the otherwise positive trend in sales.

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