BYD tops Hungarian BEV market
China's BYD, the world's leading manufacturer of plug-in electric and plug-in hybrid (NEV) cars, is rapidly increasing its presence in the Hungarian new car market. After launching in Hungary in October last year, BYD reported the highest number of sales in the BEV segment in July this year.
BYD tops Hungarian BEV market
The Economics of Geography

BYD tops Hungarian BEV market

Photo: AFP/NurPhoto/Costfoto
Eurasia 08/08/2024 18:24

China's BYD, the world's leading manufacturer of plug-in electric and plug-in hybrid (NEV) cars, is rapidly increasing its presence in the Hungarian new car market. After launching in Hungary in October last year, BYD reported the highest number of sales in the BEV segment in July this year.

In a statement sent to MTI on Wednesday, BYD PR Hungary announced that its Hungarian dealerships sold 148 passenger cars in July, securing a 25.4 per cent share of the BEV segment.

Since January, 663 passenger cars have been sold, giving the brand a 12.7 per cent share. The acceleration in deliveries of cars ordered under the government's electric vehicle incentive programme is encouraging, and based on registrations so far, the current result could be multiplied by the end of the year, said PR manager Péter Erhardt.
He noted that there are currently three BYD dealerships in Hungary, with plans to expand this number as part of the national network's growth this year, as promised by the manufacturer.

Péter Erhardt added that BYD will expand its range of models, and in addition to pure electric vehicles, it will also introduce plug-in hybrid models in Hungary as early as 2024.

Founded in 2003, BYD Auto is the automotive subsidiary of BYD, a high-tech multinational, and the first automaker to stop producing fossil-fuel vehicles in the electric transition. It has led the way in rechargeable passenger vehicle (NEV) sales in China for nine consecutive years. In 2023, the company announced a multi-billion euro investment in Szeged to build a car plant.

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