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Association: State support could boost new car sales

Banking

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Hungaryʼs new car market could recover with the help of government support that should be extended to buyers, János Eppel, co-chairman of business association VOSZ, told Hungarian economic daily Világgazdaság today.

The co-chairman said the precedent in other countries, which recouped in 3-4 years, involved industry and state support in the form of price, financing and tax preferences all of which helped the sector.

The number of new cars sold stands at an annual 77,000, a figure well below 2008’s 182,000, Eppel noted. Eppel also mentioned that government talks are underway on how to boost tax morale among car mechanics, who fail to pay HUF 40-50 billion a year into the budget.

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