Records in the Car Market in July

Domestic sales continue to be the main drivers of the Hungarian car market; BMW was overtaken by a Renault.

The seventh month did not come as a big surprise in the car market, as there is still a significant deficit in the marketing of new and used cars compared to last year's data, but domestic used car sales are developing more favorably. Looking at this year, however, July was a record month for both the new car market and the change of ownership in Hungary, according to the analysis of használtautó.hu ('Used cars').

In essence, July brought a continuation of the trend experienced in the first half of the year in the car market. All this means that both the new car market and second-hand car imports will continue to be significantly pushed back by the coronavirus (and its economic consequences), while there is no sign of a stagnation in domestic second-hand car sales in March and April.

According to a report compiled by Datahouse Ltd. from the data of the Ministry of the Interior, 21% less new passenger cars were on the market in July than in the previous year. Although this is the most modest decline since April, and the monthly volume of the market has almost doubled compared to the same period in 2019, we can still see a deficit of 25% compared to last year as a whole. At the same time, it gives hope that the new car registration in July was 16% higher than in June, the figure of 12,045 cars is a record this year.