Boston, MA -- (SBWIRE) -- 01/15/2013 -- Hungary's auto industry presents a decidedly mixed picture as we enter 2013. On the one hand, new car sales have remained very strong over the majority of 2012, with new passenger car (PC) sales up by 16.3% over the first nine months of the year, to reach 39,319 units. Commercial vehicle sales also showed steady growth, according to information from the Hungarian Vehicle Importers Association (MGE).

However, it is a different story for production, which BMI now expects to contract slightly over 2012. BMI maintains a relatively bearish outlook on vehicle production in Hungary, forecasting a 1.3% decline in 2012. Although we then forecast moderate increases in production levels over the remainder of our newly-extended forecast period to 2017, we believe total production levels will not return to their 2008 highpoint during this time.

View Full Report Details and Table of Contents

BMI believes that weakening domestic and external industrial confidence, deteriorating credit channels, poor external demand, and tight domestic policy will all act to hold back firms' capacity and appetite for large-scale investment projects over the coming quarters. Leading indicator data continue to support this view, with industrial production growth still in negative territory, and latest industrial survey readings falling to their lowest levels since late 2009.

However, for new vehicle sales, the picture is somewhat more reassuring. In addition to the 16.3% growth seen in new PC sales, light commercial vehicle (LCV) sales were up by 7.4% over 9M12 to reach 8,071 units, with heavy commercial vehicle (HCV) sales up by 5.2% to reach 3,220. The only laggard was the bus sub-segment, where sales dropped by 94%, to 36 units. BMI currently forecasts a 13.4% increase in overall new vehicle sales in 2012, to reach 69,138.

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Transportation research reports at Fast Market Research

You may also be interested in these related reports:

- Malaysia Autos Report Q1 2013
- Vietnam Autos Report Q1 2013
- Mexico Autos Report Q1 2013
- China Autos Report Q1 2013
- Brazil Autos Report Q1 2013
- Japan Autos Report Q1 2013
- Pakistan Autos Report Q1 2013
- Argentina Autos Report Q1 2013
- Canada Autos Report Q1 2013
- Germany Autos Report Q1 2013