Fast Market Research recommends "Hungary Autos Report Q4 2014" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 10/17/2014 -- Hungarian passenger car sales in June 2014 increased 25% (y-o-y) to 6,243 units. H114 sales figures came in at 32,992 units, a 21.4% y-o-y increase on H113. Consumers in Hungary are benefiting from real wages rising, lowering of interest rates and a decline in unemployment which has led to an increase in passenger car sales. This could prove short-term however, due to Hungary's relative economic instability even after recovery. The government has embarked on an expansionary fiscal policy in spite of the risks this poses to long-term stability, which may have a detrimental impact on sales figures in 2015 ( see ' Government Spending Unable To Prevent Slowdown' Aug ust 20).
Many large global carmakers including Knorr-Bremse, Bosch, General Motors, Continental and Audi have production and R&D facilities in Hungary, with the industry as a whole employing directly or indirectly over 100,000 people, according to the Hungarian Investment and Trade Agency (HITA). Around 90% of vehicles made in Hungary are for export, claims HITA, as well as over 80% of engines and components. Most exports (86%) go to within the EU - mainly Germany - and to countries outside the EU such as Russia.
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HITA, the Hungarian Investment Promotion Agency, says Hungary is the market leader in terms of engine manufacturing in the CEE region. The government continues to offer financial aid to foreign automakers who wish to invest in the country, such as Porsche, BMW, Audi and Ford. Such schemes may be under threat in the future, however. Recently the European Commission has launched an investigation into whether the Hungarian government broke EU competition rules for the awarding of regional investment aid.
European automakers are on a drive to increase regional plant capacity. Recently Audi has announced that it would add a third shift at its Gyor plant in Western Hungary to produce the Audi TT Coupe, highlighting its long-term plans for expansion in the country. The new shift will enable...
The Hungary Autos Report features the latest data and forecasts covering production, sales, imports and exports.
Business Monitor International (BMI)'s Hungary Autos Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the automotives market in Hungary.
- Benchmark BMI's independent automotives industry forecasts on Hungary to test other views - a key input for successful budgetary and planning in the Hungarian automotives market.
- Target business opportunities and risks in the Hungarian automotives sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Hungary.
- Assess the activities and market position of your competitors, partners and clients via our Competitive Landscape Analysis.
BMI Industry View
Summary of BMI's key industry forecasts and views, covering production, sales and the introduction of new technology or products.
Global, Regional and Country Industry Overviews
In-depth analysis of the major global and regional developments in the market, which can be linked with the country industry overview, providing cross-country investment, product and financing trends that will affect each market, supported by BMI?s global and regional industry forecasts.
Business Environment Rankings
BMI's proprietary Autos Business Environment Rankings are a unique country-comparative Risk-Reward Rankings index that separately analyses the risks and rewards of operating in each market. It is aimed at investors (including manufacturers, suppliers and dealers) who seek to either identify and compare market opportunities, or evaluate country-specific operational challenges.
The rankings methodology makes sophisticated use of over 40 industries, economic and demographic data points.
BMI Industry Forecasts
Historic data series and forecasts to end-2018 for all key industry indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
Total production value (US$bn); total production of units; production by vehicle-type (including cars, commercial vehicles, trucks and buses); total sales value (US$bn); sales by vehicle-type, including passenger cars and commercial vehicles (vans and microbuses, pickups, trucks and buses, 4 wheel drive); total exports by value (US$bn) and by units; total imports by value (US$bn) and by units; contribution to GDP; employment in industry.
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