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Articles
The Number of New Car Registrations in Hungary Increased in July
Posted: 2015-08-05
The Hungarian automotive sector recorded a rise in terms of car sales in July. New car registrations in Hungary saw a year-on-year rise of 14.4% reaching 7,012 in July. According to the Hungarian Vehicle Importers Association (MGE) who cited information collected by Datahouse, the sales of light commercial vehicles (LCV) also increased to 5.1% reaching 1,313.
The Hungarian car market on an upward trend
This data reflects so far an upward trend on the Hungarian car market. Furthermore, the MGE confirmed its previous estimates regarding the full-year sales of cars. MGE expects sales of 75,000 cars and 17,000 LCVs on a national level, up to 15% and 6%, respectively, from 2014.
The automotive market in Hungary is one of the main industries in Hungary. Many important automotive companies have chosen to invest in this country due to the many advantages Hungary offers in terms of foreign investments.
Report on the car sales registered in July in Hungary
The company that sold the most new vehicles in July was American Ford, with a 10.7% market share, according to the data compiled by JATO Dynamics.
In terms of new passenger cars, most Hungarians preferred the cars provided by the German car producer Opel. This company had a market share of 10.6% in July, being followed by Japanese Suzuki, Czech Skoda and German Volkswagen.
Investing in the Hungarian automotive market
The automotive sector is one of Hungary's main industries, generating about 21% of total exports. Therefore, Hungary represents a good option in terms of automotive investments.
If you are interested in investing in the automotive market in Hungary, our company formation specialists can provide you with legal assistance. Whether you want to start a new company in Hungary or to expand your current business in this country, we have the perfect solution for your needs.
Our company formation agents are experts in company registration in Hungary and can also help you choose the best type of company for your business objectives.
For more details about the process of setting up a company in Hungary or for a personalized offer, you may contact our Hungarian company formation experts.