BYD Moves to the Forefront in the Hungarian Car Market

By: hungarytoday.hu

Aug 08 2024
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BYD Moves to the Forefront in

China’s BYD is rapidly increasing its presence in the Hungarian new car market. After its launch in Hungary in October last year, the world’s leading manufacturer of pure electric and plug-in hybrid NEVs (New Energy Vehicle) has already reported the highest number of cars sold in the BEV (battery electric vehicle) segment in July this year.

In a statement, BYD PR Hungary noted that in July, its Hungarian dealerships sold 148 passenger cars, meaning a 25.4 percent share of the BEV segment. Since January, 663 passenger cars have been sold, giving the brand a 12.7 percent share.

Head of PR Péter Erhardt said that the acceleration in deliveries of cars ordered under the government’s electric vehicle incentive program was a cause for optimism.

Based on the registrations so far, the current result could be multiplied by the end of the year.

Currently, there are three dealerships selling BYD brand cars in Hungary, and the number will be expanded this year as part of the expansion of the national network, as promised by the manufacturer. Péter Erhardt noted that BYD will expand its range of models, too, and in addition to pure electric vehicles, it will be present in Hungary with plug-in hybrid models as early as this year.

China’s BYD announced a multi-billion euro investment in December 2023 to set up its first European car plant in Szeged, southern Hungary. As Hungary Today reported, the first cargo of construction materials has since arrived from China, meaning that construction of the plant could start soon.

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