In October, vehicle registrations in Hungary grew by 20.04% with respect to October of 2015. In total, 118,131 cars were registered and 118,131 new cars were sold in the last twelve months, 20.04% more than the year before.
The breakdown of car sales figures for the month of October is:
- Commercial vehicles sold: 27,082, 17.97% more than in October of 2015.
- Passenger cars regitrations: 7,953, which represents a figure of 2.92% less than in October of 2015.
Hungary is the 24th-placed country in ranking of 36 countries based on number of vehicle registrations.
A very useful variable for estimating the level of economic wealth enjoyed by Hungarians residents, when compared to the other countries in the ranking, is the number of vehicles sold or registered per thousand residents in the last year. With annual sales of 11.99 cars per 1,000 residents, 11.99 of them in the last month, Hungary, occupies one of the final places in the ranking, meaning that its population is among those in the table with the least spending power.
As can be seen, the number of registrations per thousand residents has fallen in the last year. A drop in registrations generally indicates a fall in consumer confidence and, when it is sustained, a recession in the real economy .
Changes in Hungarian vehicle registration numbers are shown in the tables below. As several studies indicate, these changes are very much related to changes in GDP and, hence, to a country's economic situation. Sales have declined since 2006, as 217,073 were registered that year, as have the number of registrations per thousand residents, which that year numbered 21.54.
Here we show you the progression of vehicle registrations in Hungary. You can see car registrations in other countries in en vehicle registrations and see all the economic information about Hungary in en Hungarian economy.