Rising Demand for Used Cars in the Market
The demand for used family cars is on the rise as the new car market dwindles and the prices of multi-purpose vehicles (MPVs) continue to increase. According to research by Used car.hu, the Opel Zafira, Volkswagen Touran, and Renault Scenic are among the most popular MPVs in Hungary.
Interestingly, the lowest average price of HUF 622,000 (EUR 1,569) is for a Citroën Xsara, which is, on average, 18.5 years old, making it the oldest on the list. On the other hand, the highest average price of HUF 3,667,000 (EUR 9,252) is for a Ford S-Max, which is, on average, 10.9 years old, making it the youngest on the list.
András Horváth, a car market expert at Used car.hu, mentioned that buyers are willing to spend more on practical cars, with the average age of the top models being 13.8 years younger than the overall Hungarian car fleet.
The Hungarian used car market is experiencing unprecedented growth, with a shift towards older and more affordable vehicles. In fact, 37 percent of sales involve cars that are at least 20 years old, and more than 60 percent are at least 15 years old.
On the other hand, the new car market in 2024 has seen a positive start, with roughly 7,000 more cars registered in the first four months compared to the previous year. The supply chain is no longer affected by the shortage of semi-conductors, resulting in normalized delivery times. Additionally, there has been a significant increase in the number of electric vehicles on the road, with nearly 50 percent more e-cars compared to the same period last year.
Overall, the trend towards used family cars reflects the changing dynamics of the car market in Hungary, with buyers showing a preference for practicality and affordability.
