Chinese EVs gain ground in Hungary's used car market

CGTN Europe

Chinese electric vehicles (EVs) are reshaping Hungary's used car market, offering affordability and modern technology. Once dominated by European and Japanese brands, the sector is now seeing rising demand for models from Chinese automakers BYD and MG.

Transcript

00:00Hungary's electric car revolution is rolling through Budapest, and today I'm on the passenger seat

00:05with someone who's test-driven just about every EV on the market.

00:10Last year I shoot around 28 car test videos and other videos as well,

00:17so basically I'm shooting 80 or 90 videos per year.

00:22It's a market that's shifting fast.

00:25Used electric cars once hard to find are suddenly everywhere.

00:29In 2024 Hungary registered a record 22,000 EVs and 13,500 of those were second-hand.

00:39Last year there were 60% more EVs imported as used or second-hand cars from Europe.

00:47Is there excitement about the possibility of having more EVs here in Hungary?

00:53The numbers are getting better and better, but there is some waves all the time.

00:59If the subsidies are cutted, nobody wants to buy electric cars.

01:04If there is some subsidy, they want to buy electric cars.

01:07One of the biggest winners in Hungary's used EV market is MG.

01:12Yes, the classic British brand, now Chinese-owned.

01:16MG, ZS and EHS models top searches and they are selling for under $22,000.

01:24BYD is another rising star.

01:27Its electric-first approach is pulling in eco-conscious buyers.

01:31Searches for ATO 3, SEAL and Dolphin models have quadrupled in a year.

01:36In our platform, the EVs are uprising or growing, but not so dramatically.

01:44We assume that in two years it will change.

01:49But challenges remain. Charging infrastructure still lags behind demand and the price of new EVs is a barrier.

01:56I think the biggest problem with electric cars is not the range.

02:01It's not the charging speed or this kind of thing. It's the price.

02:06There is hope that prices will drop soon.

02:09BYD's new factory in Hungary is expected to open earlier than planned this year.

02:17A few years ago, you could hardly see a Chinese-made car on these roads.

02:21Today, they are more visible in everyday traffic.

02:25And if this trend continues, Hungary's streets might soon look very different.

02:31Pablo Gutiérrez, CGTN, Budapest.

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