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18th May, 2023

New car registrations fall 6% in April

The number of new passenger car registrations in Hungary was down 6% year-on-year to 8,549 in April, according to data from the European automobile manufacturers’ association ACEA.

Sales of hybrid electric and plug-in hybrid vehicles reached 3,800 last month, accounting for 44% of all car sales.

Cars with petrol engines made up 36% of the total, and vehicles with diesel engines 14%.

In the first four months, 38,109 new cars were registered in Hungary, 0.9% more than a year earlier.

Sales of purely electric cars rose by 32.4% year-on-year to 2,053, and those of plug-in hybrids saw 10.1% growth to 1,846.

Sales of hybrid-electric vehicles were almost unchanged at 15,393.

A total of 14,161 petrol cars and 4,364 diesel cars were sold In the January-April period, declines of 1.7% and 1.9%, respectively. (napi.hu; portfolio.hu)
18th May, 2023

Leasing outlays rise, but contract numbers fall

Leasing outlays were up 19.5% year-on-year to Ft 198.7 billion in the first quarter, the highest quarterly figure for the period since 2008, the Hungarian Leasing Association said in a quarterly report.

New leasing contracts declined 13% to 15,641, the lowest first-quarter figure since 2016, amid rising asset prices, high inflation and rising borrowing costs.

SMEs accounted for 77.5% of leasing companies’ business, followed by large companies and retail customers with shares of 14% and 4.7%, respectively.

Leasing by individuals has great potential, as they account for 29% of the total, on average, in Western Europe.

Vehicles made up close to three-fourths of financed assets, of which light commercial vehicles and passenger cars had a 49% share and heavy commercial vehicles 23.5%.

New contracts and the value of leasing outlays could drop in 2023, due to economic uncertainties, the Leasing Association warns.

On a more positive note, it said state-subsidised lending schemes could stimulate the market. (penzcentrum.hu; portfolio.hu)

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