Published: December 08 2023
Porsche Hungaria, the Hungarian importer of brands under the German Volkswagen Group, is anticipating increased sales and the introduction of new models in Budapest. This growth is expected to strengthen Porsche Hungaria's market share in Hungary and lead to a higher percentage of electric vehicle sales.
Increased Sales and Model Expansion
The managing director of Porsche Hungaria expects a rise in sales for the company's brands in the upcoming year. He attributes this growth to improvements in the supply chain, which have allowed for more orders to be fulfilled and cars to be delivered to customers. Additionally, Porsche Hungaria plans to launch 23 new and refreshed models in 2024, further expanding their offerings.
Strong Performance and Electric Vehicle Growth
In 2023, Porsche Hungaria's brands had a successful year, with a 12.9% increase in vehicle deliveries compared to the previous year. Notably, electric vehicles accounted for 977 of the vehicles sold, representing a 40.8% growth in this segment. Looking ahead to 2024, the managing director predicts a significant rise in electric vehicle sales due to a new subsidy scheme. He expects that Porsche Hungaria will contribute to 17% of electric car sales in the Hungarian market.
Trends in the Hungarian New Car Market
Despite the positive outlook for Porsche Hungaria, the managing director is less optimistic about the overall Hungarian new car market. He highlights that the market is shifting towards becoming a supply market and identifies factors such as high interest rates that are negatively impacting its performance. However, he believes that the introduction of more players in the alternative propulsion vehicle market will generate greater customer interest and benefit all brands, emphasizing the importance of technology-related services.
Background of Porsche Hungaria
Porsche Hungaria is the Hungarian importer for various brands under the German Volkswagen Group, including Audi, SEAT, CUPRA, Skoda, Volkswagen, and more. Over the past 30 years, the company has built a group of supporting companies, such as Porsche Finance Group and Porsche Property Management, to facilitate the car trade in Hungary. They also operate in used car distribution and have a logistics center for parts supply.
- MTI (Hungarian News Agency)
- Featured image: Pixabay
Questions & Answers
What is Porsche Hungaria? Porsche Hungaria is the Hungarian importer of the German Volkswagen Group's brands such as Audi, SEAT, CUPRA, Skoda, Volkswagen, and Volkswagen commercial vehicles. They also have a used car distribution business called Das WeltAuto.
What is the market share of Porsche Hungaria in the Hungarian new car market? According to the managing director of Porsche Hungaria, the company's share of the Hungarian new car market is expected to exceed 20 percent.
How many new and refreshed models will Porsche Hungaria launch in 2024? Porsche Hungaria plans to launch 23 new and refreshed models in 2024.
How many vehicles did Porsche Hungaria deliver in the first 11 months of 2023? In the first 11 months of 2023, Porsche Hungaria delivered 27,661 vehicles, which is a 12.9 percent increase compared to the same period last year.
What percentage of the vehicles sold by Porsche Hungaria were electrically powered? Of the vehicles sold by Porsche Hungaria, 977 were electrically powered, representing a segment that grew by 40.8 percent.
What does the managing director of Porsche Hungaria expect for the Hungarian new car market? The managing director of Porsche Hungaria is less optimistic about the Hungarian new car market and expects it to decline. He mentioned that the Hungarian market, like the European one, is turning into a supply market and factors like the high interest rate environment are pushing it down.
What market trends does the managing director of Porsche Hungaria expect for next year? The managing director of Porsche Hungaria expects a significant increase in sales of electric vehicles in the Hungarian market as a result of the new subsidy scheme. He believes that 5 percent of cars sold in Hungary in 2023 will be electric, with Porsche Hungaria brands accounting for 17 percent of electric car sales.
What are the factors that the managing director of Porsche Hungaria believes are important for competing with Asian manufacturers in the Hungarian market? According to the managing director, competing with Asian manufacturers in the Hungarian market is not only about quality but also about technology-related services. He mentioned that the market for alternative propulsion vehicles is seeing a growing number of players and all brands stand to benefit from a surge in customer interest.
What other companies are part of the group of companies supporting the car trade in Hungary? Apart from being the Hungarian importer of the German Volkswagen Group's brands, Porsche Hungaria also includes Porsche Finance Group, Porsche Property Management, Europcar car rental, and a logistics center for parts supply as part of its group of companies.