Used Cars A Threat To New Car Sales Growth

Hungary's automotive sector continued to gain ground over the first nine months of 2011, reversing the significant decline witnessed over 2010. According to a November 2011 report in the Budapest Business Journal, new vehicle registrations were up by 7.8% year on year (y-o-y) at 50,894 vehicles. Of this total, 37,180 were passenger cars, up by 3% y-o-y. Given this consistent performance by the Hungarian new car market over the bulk of 2011, BMI is happy to maintain its forecast of 55,988 CBUs for the whole year, representing a 6% annual increase.

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