Toyota Had Its Best Year in Hungary in 2022

Toyota had its best year ever in the combined passenger car and light commercial vehicle market in Hungary in 2022, with its dealerships selling 15,102 vehicles, giving the brand an 11.7% share of an otherwise shrinking market, the country director of Toyota Central Europe Ltd., Richárd László said at a press conference in Budapest.

Toyota Central Europe is the Japanese carmaker's biggest importer in Europe, with 13% of Toyota sales in Europe and 18% of Lexus sales in the countries it covers: Hungary, Slovakia, the Czech Republic and Poland.

In Hungary, Toyota also sold the most cars (14,810) according to figures adjusted for withdrawals (including re-exports), leading the market with a 14.4% share and maintaining its lead in the fleet market.

Richárd László reminded that global parts shortages, rising inflation and interest rates, and the weakening of the Hungarian currency have negatively affected market players in 2022. The Hungarian new passenger car and light commercial vehicle market shrank by 11% to 129,916 units last year, he quoted Datahouse data.

Toyota expects to sell 15,100 cars and light commercial vehicles in 2023, with the market continuing to shrink, he said.

The company plans to introduce five new models in 2023 and launch the fifth generation of Toyota's most popular model in Hungary, the Corolla, in the first quarter.

The Hungarian premium market grew steadily in Hungary last year, with sales volume up 10% to 18,355 units, Toyota's PR manager, Zsombor Varga added.

The Japanese carmaker's premium brand Lexus fell slightly short of its 2021 figures, with sales of 753 new cars, but retained its fifth place in its segment, both in terms of total sales and re-export-adjusted figures.