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Hungary 2020. Vehicle market further worsened in May (-54.4%)

Hungarian Vehicles Market has worsened in May 2020, following a similar trend to the Netherlands, Finland and Sweden, after managing to contain the losses in the first months of the Covid-19 crisis. Indeed, the 6.472 units were sold in May (-54.4%), pulling Year to Date figures to 52.763 (-0.7%).Hungarian Vehicles Market in MayAfter managing to somewhat contain the losses in the first months of the Covid-19 crisis, the Hungarian market is now worsening. This is similar to the phenomenon registered for the Netherlands, Finland and Sweden, where countries able to avoid a complete halt in sales in April and March, are now reporting larger losses to other European countries which previously imposed stricter regulations. Indeed, the market lost 54.4% in May with 6.472 sales, pulling Year to Date figures to a negative score, at 52.763 (-0.7%).Band-wise, the new year-to-date leader Toyota managed to perform better than the market in May, while Skoda imploded (-70.7%). Post Covid19 Market TrendAs the Coronavirus started to spread around the Country, the car market was impacted. However, the influence on registrations in March was moderate, as 11.487 units were sold in March, down 14.4%, leading the Q1 to 32.678 sales (-4.5%).In April, contrarily to other European countries, the market did not report a complete freeze, actually losing “just” 50.4% with 6.180 sales.Medium Terms Market TrendHungarian vehicles market was heavily hit by the 2008 crisis losing 75% of volumes. However, the light vehicles market doubled sales from the 63.931 in 2012 to 136.208 in 2017, albeit light commercial vehicles declined for the end of a fiscal stimulus introduced the year before.In 2018 the market kept the impressive run, with another astonishing 17.4% year-on-year improvement, while in 2019, marked the 6th consecutive annual double-digit growth. Indeed, the Full-year ended at 157.790, up 15.6% from the previous year.In the beginning of 2020, according to data released by the Hungarian Associations of Car Manufacturers, the market started on a stable trend, with Year to Date February sales to 21.191 (+1.8%).Tables with sales figuresIn the tables below we report sales for all Brands and top 10 Manufacturers Group.This content is for members only. Visit the site and log in/register to read.

South Korea 2020. Vehicles sales up 40.3% in June due to anticipated end of tax reduction
Monday July 27, 2020

Korean Vehicles Market surged 40.3% in June 2020 thanks to the anticipated end of the 30% tax cut on passenger cars consumption. Indeed, 203.818 units were sold in June, leading the First Half to 925.065 (+5.8%). Hyundai improved in double-digits while Audi signed an outstanding performance.Market Trend in JuneNew vehicles sales signed a stunning performance in […]

Nigeria. New vehicles sales fell down 50% in the first half 2020
Monday August 03, 2020

Nigerian Cars Market, after the negative start of the year, reported a huge loss in the first half 2020, due to the as several states imposed restriction measures due combined effects of strict social distancing measures and widespread travel restrictions due to covid19 and the fall of oil price in the international market. Q2 2020 […]

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