Strengthening BYD Position in the Hungarian Market

The BYD brand's position in the Hungarian new car market is visibly strengthening, with outstanding results in the first four months of this year, and this could improve further as the year progresses with the intensive expansion of the dealer network, supported by a strong model range, according to the Chinese manufacturer's PR agency.

BYD launched its plug-in, pure electric and plug-in hybrid vehicles in Hungary in October 2023, and its development has been uninterrupted since then, they said. In its first full year, 2024, 1,548 passenger and light commercial vehicles were sold, accounting for a 1.37% market share. And the first four months of this year ended with sales of 757 vehicles.

With 558 electric cars sold in the first four months (17.9% share), the Chinese brand more than doubled its January-April 2024 performance.

According to BYD PR Hungary, the company sees a chance of doubling - or even tripling - last year's sales volume, depending on the arrival of new products and the pace of network expansion.

The brand has been steadily expanding its sales network: last year's sales were practically the output of three dealerships in Budapest, and this year the models will be available in ten dealerships in eight cities. The expansion of the national network will continue, they said.