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Hungarians Search for Cheaper Used Cars

D&T
June 25, 2020

After a drastic decline in recent months, the number of searches for used cars in Hungary in June already exceed last year's results: the sudden increase in demand mainly affects second-hand cars cheaper than HUF 500,000.

That is according to the statistics of the market leader Használtautó.hu (‘used car’). Reasons not only include the higher importance of personal urban mobility, but also the lack of foreign car trips and the worsening of the HUF/EUR exchange rate – these are driving customers towards cheaper used cars.

The search statistics of used cars, which register 2.1 million visitors a month, show a clear return on the demand for used cars in the more favorable price category. Based on these, it still seems that the low point of the domestic used car market was on March 18 when less than half of the previous year’s searches were produced on the site. Shoppers began to slowly sneak back in April, with the number of searches 26% lower than in the same period of the previous year, while in May, the search figure was only 8% lower than in the same month of 2019.

In the days that have passed so far in June, Használtautó.hu has already registered a search number almost 10% higher than in the previous year. The five most sought-after models under HUF 500,000 are the Volkswagen Golf, Opel Astra, Volkswagen Passat, Ford Focus and Skoda Octavia, respectively.

“In the post-coronavirus opening, interest in the cheapest price category, below HUF 500,000, has grown significantly, while almost a third of customers would still buy used cars between HUF 1.5 million and HUF 3 million. It is difficult to predict further market developments, but even in the new car market and imports, even without another wave of viruses, an annual decline of more than 10% can be almost certain, and domestic changes of ownership will not reach last year's record number of 808,360 sales,” explained Mátyás Katona, an expert at Használtautó.hu.

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