Key Market Indicators
Hungarian Vehicle Registration is poised to reach approximately 9.4 million units by 2028, up from 4.9 million units in 2023. This marks an annual growth rate of 10.2%. Since 2010, the Hungarian market has seen an impressive year-on-year increase of 102.5%. In 2023, Hungary ranked 11th in vehicle registrations. Israel led with a similar count of 4.9 million units, while Canada, China, and Austria took the second, third, and fourth positions respectively. On the production front, Hungary is expected to produce around 541,000 vehicles by 2028, up from 511,000 units in 2023, reflecting an annual growth rate of 0.9%. Since 2002, Hungarian vehicle production has grown at a rate of 3.5% per year. In 2023, Hungary was the 24th largest vehicle producer, with Morocco slightly ahead at 511,000 units. The United States, Japan, and Germany were the top three producers in this ranking.
