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The impact of coronavirus on the Hungarian automotive industry will be a key topic at the ONLINE Automotive Industry 2020 conference. You can register for the event here:
There was a dramatic decline in the Hungarian car market, in April only 6,170 new cars were marketed, representing a drop of 50.3 percent compared to the same period in 2019. The restrictions and measures taken to curb the emergence and The spread of the coronavirus in Hungary, which apparently kept customers away from car circuits, played a decisive role in the spectacular contraction of the new car market. We can also be sure that the fact that many companies and individuals postponed the purchase of new cars due to the uncertainty caused by the coronavirus also played an important role in decreasing demand.
It is also worth noting that due to the corona virus, car sales in other European markets also decreased significantly in April. In Switzerland, for example, during the oil crisis of the 1970s, as few new cars were last sold as last month. And in Italy, where car showrooms closed in mid-March, the car market practically collapsed, with 98 percent fewer cars sold in April than in the same period in 2019.
What brands are most popular at the time of the coronavirus?
Despite the dramatic decline, there were still 6,170 new launches in Hungary: Toyota sold most of the cars in April, 759 units in number, giving the brand a 12.3 percent market share. Dacia came in second on the list with 713 new cars sold and a market share of over 11.5 percent, followed by Skoda, Volkswagen and Ford.
According to Carinfo, 1,408 new light commercial vehicles were launched in April, 33.1 percent less than in the same period last year. Most brands of light commercial vehicles, 417 units, were sold by Ford in the Hungarian car market, the brand’s market share was nearly 30 percent. Second on the list was Fiat with 226 vehicles sold, while third place went to Toyota with sales of 133 units in April.
Substantial improvements are not expected in the near future.
Unfortunately, it must also be said that the Hungarian car market is facing a difficult year, the Hungarian Association of Motor Vehicle Importers (MGE) recently revised its forecast for 2020 due to the economic effects of the coronavirus epidemic, with a decrease of new car sales by about 25 percent.
Instead of the 155,000 listed above, only 118,000 vehicles are viewed as likely to be put on the market year-round. For light commercial vehicles, 22,000 new vehicles are no longer expected to be marketed.
They added that in April and May up to a 50 percent drop is also conceivable that it took place in the passenger car and light truck control vehicle due to a category of crisis measures enacted AND CLOSING YOUR PLANT, LOSS MID-YEAR sales in the second probably knows how to compensate to some extent.
Therefore, no improvement is expected in the near future, all the more so because other industry players also expect the Hungarian car market to shrink further.
The coronavirus epidemic is having a freezing effect on the European automotive industry and trade.
Gábor Gablini said recently.
Cover image source: Markus Hibbeler / Bloomberg via Getty Images
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