According to the latest analysis by JóAutók.hu, the number of transactions on the Hungarian used car market reached a record in 2024, with a total of 909,000 passenger cars changing hands. This represents a 10.2% increase compared to the previous record in 2022, when 825,000 cars were re-registered domestically. The analysis suggests that many buyers made up for postponed car purchases from previous years and opted for used vehicles instead of new ones. Due to exchange rate fluctuations, more buyers also shifted from foreign markets to the domestic used car market.
The turnover of the used car market was outstanding in 2024: out of every 100 cars, 21–22 were involved in a transaction. Prestige brands such as BMW (37%), Mercedes (31%), and Audi (29%) changed hands faster than average. Volkswagen models, with a rate of 23%, also exceeded the average, while Opel (20%), Suzuki, and Toyota (18%) slightly lagged behind.
According to Datahouse data, vehicles from six brands accounted for 49% of the total turnover on the domestic used car market in 2024. Opel led the market with 98,000 cars changing ownership, representing a 10.8% share. Volkswagen followed in second place with a 10.2% share, while Suzuki ranked third with 8.3%. Ford came fourth with 7.9%, BMW fifth with 6.2%, and Skoda sixth with 5.5%.
The average age of passenger cars in Hungary is 16 years, and more than 36% of vehicles changing hands on the used car market were at least 20 years old.
The new car market showed 13% growth in 2024, with 121,600 new passenger cars sold, compared to 107,700 units in the previous year. The number of imported used cars reached 111,000, which is 5% higher than the 105,700 vehicles imported a year earlier.
Source: infostart.hu