The new car market shrank by 3.4% to 107,720 cars in 2023, as high interest rates and rising car prices deterred many buyers.
The lack of purchasing power was also felt in the used car market. Used car market shrank by 16% to around 105,650 used vehicles. In addition, the average age of registered cars continued to rise to 15 years, according to data from the Hungarian Vehicle Importers Association (MGE).
Last year, 5,807 pure electric cars and 5,5,46 plug-in hybrid cars were registered in Germany. This corresponds to an increase of 23.4% and 13.7% respectively. In total, these two categories accounted for almost 11% of all registered vehicles. At the end of December last year, there were already more than 86,000 climate-friendly vehicles on Hungary’s roads.
Last year, 20,750 vans (+17.5%), 6,350 trucks (+11.5%) and 3,650 trailers (+9%) were also sold. Sales of buses increased by 820 units (+17.5%) and motorcycles by 6,550 units (+26%).