The number of car sales in Hungary have dropped brutally, by 64.2 percent, to 5,297 in May, as compared to the same period of last year, the business daily Napi Gazdasag said on Wednesday.
According to preliminary data, in the first five months of the year only half as many cars were sold than a year earlier.
This year some 85,000 passenger cars and 15-20,000 vans are expected to be sold in Hungary, chairman of the association of vehicle importers, Gabor Gyozo told the paper.
Significant backdrop is expected in new car sales in July and August, but the market is likely to accept higher prices by the autumn, so sales may start an upturn in October or November, Napi Gazdasag wrote.
Only in Hungary can you have a 2/3rd drop in the volume of new cars sold — and yet, the “market will accept higher prices” soon. Wow!!!
In other countries, you see, something like this might have a DONWARD push on prices. But not in Hungary, of course. UP-UP-UP, instead.
I guess Adam Smith was not really writing his treatises about the “Hungarian perfect equilibrium model,” huh?
Raising car prices to make up for declining sales is just as dumb as raising taxes to make up for a shrinking tax base. There are smart people in Hungary, but they rarely get into politics or selling cars.
No, indeed. Instead they spend their time writing magic-potion elixirs for all the troubles of the world on this very web site.
screw the new car market. Buy only used from private individuals and u might actually get market price. Dealers will soon go bankrupt if they dont adjust