Hungarian New Car Market: Another Good Year for Toyota

Toyota sold 18,122 new cars in Hungary in 2024, a historic record performance that gave the Japanese brand a 12.4% share of the total Hungarian market for new passenger cars and light commercial vehicles, Toyota Central Europe Ltd. informed MTI on Tuesday.

The brand reported sales of 17,371 vehicles in the market cleared of withdrawals, giving it a 14.6% share, they added.

The statement pointed out that cars withdrawn from the Hungarian market within six months of registration in Hungary do not actually remain on the roads, so the figures adjusted for withdrawals give a more realistic picture of new car sales and the active car fleet in the country than the overall market data.

They highlight that the share of withdrawals in the Hungarian passenger car market is 17.1% of all brands, which is the number of new cars actually on Hungarian roads. There are market players where the rate is over 50%, and others where it is practically zero, in the case of Toyota 2.3%.

In the Hungarian market for light commercial vehicles, the withdrawal rate for all brands is 27.2%. For some brands it is as high as 45%, for others only 6%, while for Toyota it is 11.7%.

According to the importer's data, Toyota's share of the Hungarian passenger car market is 12.9%, with 14 622 new cars sold, while its share of the light commercial vehicle market is 14.1%, with 3 500 new cars sold. Adjusted for withdrawals, the market share increases to 14.2% for passenger cars and 17.1% for light commercial vehicles.

Fleet sales account for 62.1% of the company's sales. According to figures adjusted for withdrawals, Toyota sold 10,795 vehicles to legal entities last year, ranking first among brands with a share of 13.9%. Among private buyers, Toyota was the second best-selling brand in 2024, with 6,576 units sold and a 16% share.