Hungary DOC Reports

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Hungary Automotive, Industrial Oil, and Lubricants Market

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According to the Hungarian Petroleum Association, the total market for automotive oil and lubricants in Hungary was around 52.2 million tons in 2004, representing close to a 4 percent rise over 2003. The estimate for 2005 is 53 million tons. Engine oils and gear and hydraulic oils make up the vast proportion of the market, but high growth has been seen in process, metalworking and highly refined oils as well, which serve a growing manufacturing base.

 

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Hungary Automotive Parts and Equipment Market

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The market for automobiles in Hungary has been robust since the mid-1990s, helped by the rise of personal disposal income and the easing of available credit. Although new car sales have stagnated recently, due to an influx of used cars from Western Europe, following the elimination of import tariffs when Hungary joined the EU in 2004, the trends still augur well. In 2004, Hungary had about 281 cars per 1,000 people, versus 362 cars per 1,000 people in Greece, which has the lowest per-capita car ownership in the EU-15. So there is room to grow, especially since the average age of vehicle is 11.7 years.

 

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Hungary Automotive Tuning Segment

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The overall car fleet in Hungary consists of 2.8 million automobiles representing over forty brands. While the overall automotive parts market was valued at USD 1.2 billion, the market for performance and tuning products in Hungary was assessed to be around USD 20 million in 2004, with a growth rate of 2-3 percent per annum. The most popular products in this sector are aluminum wheel rims, chrome-styling, high performance exhaust systems, hi-fi entertainment systems, dashboard computers, sport air filters, chip tuning as well as neon lighting products. Entering the Hungarian market will require a careful selection of good quality product mix at an attractive price level and working with the local distributor to create product awareness and focus on market exposure.

 

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