The automotive sector in Hungary plays an important role in the country’s economy and exports. In 2016, the transport equipment GVA represented a 4.5% share in the country’s GDP. In 2016, the transport equipment sector accounted for almost a quarter of the total industrial sales as top automotive manufacturers such as Suzuki, Audi, Daimler and Opel have established local production facilities. The bulk of the country’s automotive production, about 90%, goes to export markets, with passenger car exports accounting for 27% of the overall Hungarian exports in euro terms. In 2016, the country ranked 9th in the EU in terms of PC production with a 3.2% share, but at the same time had one of the lowest ownership rates with 313 vehicles per 1,000 inhabitants. The segment of new passenger cars has been growing at faster rates in recent years as economy recovered, unemployment went down and consumer income rose. As of August 2017, the automotive sector employed close to 168,000 people.

The consumables segment includes automotive goods that need to be changed recurrently as they are used up or worn out as the vehicle functions. Consumables in a vehicle are lubricants, batteries, fuel, coolants, and tires.The spare parts segment includes crash parts, repair materials, supplementary mechanical parts, repair materials, and automotive tools used in the repair service delivery

The scope of this report is focused on passenger cars and commercial vehicles. The market volume was calculated based on the electric vehicle registrations or sales. Based on the classification, the Average Selling Price (ASP) was calculated by weighted average method. ASP calculations are completely based on the number of data points taken into account while conducting the research. The base currency considered for the market analysis is US$. Currencies other than the USD are converted to the USD for all statistical calculations, considering the average conversion rate for that particular year.

The market dynamics section of the report examines the diverse factors which govern the process of manufacturing, distribution, and usage of automotive telematics, globally. This analysis will provide an in-depth understanding of the direction in which the market is headed, and the impact of various factors on the same. This chapter covers the major market dynamics, namely: the drivers, restraints, and the opportunities in the automotive telematics market, listing and analyzing several factors that positively and negatively affect the automotive telematics industry. This chapter also includes a section on industry attractiveness (evolution of telematics and pricing analysis).

Rear spoilers are gaining momentum and witnessing high demand. These devices offer various benefits to users, such as enhanced fuel-efficiency and safety. Automobile manufacturers also enable users to modify their spoilers as per their requirements and vehicle type. Additionally, increasing fuel costs are also expected to drive the growth of the rear spoiler market over the forecast period. The increasing demand for SUVs and MUVs are also bolstering the market growth. These vehicles enable users to experience enhanced driving capabilities in rough regions by providing features such as enhanced ground clearance and visibility. Additionally, they offer flexible interior space that can be adjusted according to the requirements of users, enabling them to carry more passengers and cargo with convenience.

Foreign automakers gearing up to tap into the growing demand for electric vehicles in China dominates this quarter's investment round-up. Pakistan's automotive landscape is also continuing its transformation with Khalid Mushtaq Motors announcing assembly plans.

Ongoing strength in the European autos market is proving positive for production in the region, particularly in the countries of Central and Eastern Europe. The industry in the region is now showing signs of maturing, with more value-added projects around EVs. Russia's recovery is also drawing in investment, but markets in the CIS are also diversifying their export operations for more growth opportunities.

Foreign automakers gearing up to tap into the growing demand for electric vehicles in China dominates this quarter's investment round-up. Pakistan's automotive landscape is also continuing its transformation with Khalid Mushtaq Motors announcing assembly plans.

Ongoing strength in the European autos market is proving positive for production in the region, particularly in the countries of Central and Eastern Europe. The industry in the region is now showing signs of maturing, with more value-added projects around EVs. Russia's recovery is also drawing in investment, but markets in the CIS are also diversifying their export operations for more growth opportunities.