Hungarian bus market sees tenfold growth in August

In the first eight months of the year, 64,756 passenger cars, LCVs, buses and motorcycles were registered, an 11.3 percent increase year-on-year.

In August, 6,534 passenger cars, LCVs, buses and motorcycles were registered, up by 1 percent year-on-year, reported the Hungarian Leasing Association quoting data published earlier by Datahouse.

Passenger car sales increased by 4.8 percent to 4,997 units. In August, HGV sales saw a 13.7 percent increase to 381 units. With 42 units sold, Hungarian bus registrations saw a tenfold increase in August year-on-year.

In the same period, motorcycle sales increased by 10 percent. The segment of LCVs saw a slight decline in August as sales decreased by 21.6 percent to 961 units.

In the first eight months of the year, however, the segment saw a two-digit growth as sales increased by 11.3 percent year-on-year. In the same period, passenger car sales rose by 11.7 percent to 49,032 units. LCV sales increased by 8.5 percent to 10,453 units from January to August.

HGV registrations saw a 17.2 percent increase and grew to 3,387 units in the same period. Motorcycle sales rose by 10 percent to 1,632 units. In spite of a significant increase in August, in the first eight months of the year, bus registrations saw a decline as sales went down by 6 percent to 252 units between January and August.

Gábor Lévai, secretary-general of the Hungarian Leasing Association, said that car registrations continue to be driven by lease firms: in the given period, nearly 40 percent of all new passenger car and LCV registrations were lease sales.

According to Lévai, the growth of the auto market will continue to play a significant role in the growth of the leasing market, and lease firms will have an increasingly important role in the supply of non-vehicular equipment in the coming period, substantially contributing to the development of the SME sector and the Hungarian economy.