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The MG brand continues to gain market share in the Hungarian new car market, and the dealer network is still expanding, according to importer MG Motor Hungary.
At the beginning of October, a new dealership started selling MGs in Szekszárd (southern Hungary), expanding the network to 25 dealerships, which the importer says now provides nationwide coverage. At the same time, two more dealerships will open soon in Tatabánya (northern hungary) and Veszprém (western Hungary) in response to market demand.
The British-origin MG (Morris Garages) brand entered the Hungarian market in 2022, after the Duna Autó group was awarded the Hungarian import rights for the brand.
MG HS. Photo: Hungary Today
The MG is being repositioned in Europe by its owner, China’s SAIC Motor corporation, which has become one of the first in Central and Eastern Europe to market its cars in Hungary as part of its expansion strategy. The importer set a medium-term target of three percent market share. Since then, growth has been on track, the company said in response to a question from MTI, calling the aforementioned target ‘still realistic.’
By the end of September this year, 1,318 MGs had been sold in Hungary by dealerships in the network, giving MG a 1.48 percent share in the two years since it entered the market. Last year, a total of 1,098 vehicles were sold, giving it a market share of 1.32 percent.
The importer attributes the brand’s success to the good value for money of its models and the fact that it offers a complete range of powertrains.
Contrary to the trend in Hungary, MG sales are dominated by private buyers, who account for 60 percent of sales, compared with 40 percent of corporate buyers. In their experience, cars with internal combustion engines are still the most popular among private buyers, with the best-selling model being the petrol MG ZS, a family-friendly SUV. The buyers of the brand’s environmentally-friendly electric models are also predominantly corporate.
In 2023, MG Motor Hungary had a turnover of nearly HUF 12 billion (EUR 29.9 million), with a profit of HUF 28.38 million (EUR 70,828).
Via MTI; Featured image via Hungary Today