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According to the newspaper article, car sales in Hungary fell 18.5 percent last year compared to 2019, but in Western Europe there was an even larger drop, 25 percent in markets on average. Aid for the purchase of numerous electric and family cars helped the market, but the latter later pushed it back.
In a day and a half the tender to support the purchase of electric cars was sold out, giving a boost to the market during the summer. Due to its great popularity, most of the population expected the portfolio to reopen support and waited. However, this has not happened so far, so we estimate that approximately 10,000 potential buyers are waiting, while dealerships sold 3,000 electric cars last year, said Gábor Gablini, president of the National Association of Motor Vehicle Dealers. (Gemos), to the World Economy.
This will also affect this year. The government has stated that it is committed to greening transport, it is a question of when this intention will be accompanied by new support, as will the market. The president of Gémos would resolve the support for the purchase of electric cars in the same way as for large families, since the latter covers a period of three years, that is, there are no fluctuating seizures, but the demand is balanced.
According to Gábor Gablini, this year will not be enough to normalize the market, but it is a great achievement that last year no car dealership had to close permanently due to the epidemic, the profession retained its workers and the sector did not need state support. after that it generated significant income for the country’s economy. He expects a significant portion of last year’s deferred purchases to materialize in the spring.
The car market can also be expected to rise in price: last year the price increase was 4-5 percent, which can be mainly attributed to the forint exchange rate, but the price increase has not yet reached its peak. Maximum point. According to Attila Fojt, president of the Hungarian National Automobile Dealers Association, this year will peak this spring, and a further 3-5 percent price increase is expected.
Cover Image Source: Alex Kraus / Bloomberg via Getty Images
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