- Apr 16 2015
Hungary Automotive Parts and Equipment Market
About this product:
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.