Sales figures for the first four months of 2013 are bearing out BMI’s increasing lack of confidence in the short-term outlook for the Hungarian new car sales market. Figures released by the European Automobile Manufacturers’ Association (ACEA) in May 2013 showed that passenger car sales were down by 5.9% over the first four months of the year, at just 17,180. However, results for the month of April showed a 7.8% increase, at 4,623 units. Looking forward, BMI’s Country Risk team believes that Hungary will continue to experience recessionary conditions across 2013, forecasting GDP to contract by 0.3% this year. There …
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