Suzuki research – 92.6% of Hungarians have
changed their spending habits due to the
challenging economic conditions

The current economic circumstances have affected the
financial situation of almost all of us (98.8%), to the extent that we have had to
optimize our spending. The average is also saving in 2-4 areas. With current fuel
prices, we would think that the use of cars would also be reduced, but 66.9% of us
continue to use the cars in the same way as before, according to a recent survey by
Magyar Suzuki Corporation 1 .
Everyone saves where they can
In its latest survey, Magyar Suzuki asked to what extent the current economic situation is
affecting household budgets. Unsurprisingly, with few exceptions (1.2%), everyone is feeling
the effects of inflation and price changes, with 53.1% of us feeling the effects severely or
very severely and 45.7% to a lesser extent. The majority of respondents (57.2%) are trying to
cut spending in 2-4 areas at the same time, 20.6% are saving in more than one area, and
almost as many (22.2%) are saving in only one segment or not at all.
Updating the wardrobe is the easiest thing to give up (55.1%), while higher value
investments such as buying property or a car (52.8%) and holidays (48.9%) are postponed or
rescheduled. We also fill our shopping baskets more carefully in grocery stores (46.9%).
Surprisingly, car use is only ranked 5th in the list (33.1%). This is followed by overheads
(31.4%) and leisure expenditure (27.6%). However, money spent on education and training
(9.1%) and on physical and mental health (8.4%) seems to be cut only as a last resort.
Everyday car use remains a priority
The Magyar Suzuki survey clearly shows that cars are a necessity in everyday life (43.4%)
and a key to our freedom (24.3%), even in the face of tough economic conditions, and 66.9%
of respondents do not limit their use.
There are those who need to make sacrifices in this area too. Most people tighten their belts
by trying to stick to a daily routine (43.8%), but some (38.5%) only get in the car on certain
days or times of day. Alternative modes of transport, such as public transport, have been
integrated into daily life by 17.2% of those who have mostly driven so far. 9.3% of survey
respondents travelled with others to share fuel costs, and 6.7% increased the amount of time
they spent working from home compared to before.
We would only buy a car now if it is justified
For various reasons, but the vast majority of respondents (81%) do not plan to buy a car in
2023. 49.6% would not replace their car until its technical condition justifies it, while 39.9%
simply cannot afford to replace their vehicle in the current situation. Those who do (19%) are

1 A non-representative survey conducted between 9 and 19 March 2023 via a Typeform interface, in which 1,885
Hungarian drivers aged 18 and over answered each question.

Press release

mostly looking at the used car market (14%), with a
preference for conventional models with an internal

combustion engine only (14.54%).

"The whole sector is committed to the green transformation of the automotive industry, both
at the manufacturing and product level, but a match between customers, needs and
technology, education and the right infrastructure are essential to the uptake of green driving.
The results of our research clearly show that the public is still unfamiliar with this area, they
know little about it, they see the technology as very new and, in many cases, expensive, they
are still distrustful, they are waiting to see what solutions will be developed in addition to
electric drive, and they hope that prices will come down over time (46.9%). In this situation,
Suzuki's economical, realistically priced models are a good alternative for those who do
decide to buy a new car" – said Zsuzsanna Bonnár-Csonka, Head of Corporate
Communications of Magyar Suzuki Corporation.

 

Company information
Magyar Suzuki Corporation was established in 1991 and is currently still the only European manufacturing unit of
the company. The company contributes to the livelihood of approximately 10,000 people through its partners,
suppliers, and a nationwide network of 78 dealerships. The Esztergom plant started production in October 1992.
Currently Vitara and the new S-CROSS models are manufactured here in hybrid versions as well. The corporation
also exports to countries as far away as Mexico, New Zealand and Japan. In addition to manufacturing vehicles
for the domestic and international markets, the company also sells imported cars, motorcycles, and outboard
engines. The company is the 14th largest one in terms of revenue in the country according to 2021 data.
The outboard motor business of Magyar Suzuki is a constant presence on the market, with an increasingly
outstanding performance every year, and plays a leading role in the motorization of boating in Hungary. From the
autumn of 2017 Suzuki Marine was made a regional hub on overseeing business and sales activities across
Central and Eastern Europe including Estonia, Latvia, Lithuania, Belorussia, the Czech Republic, Slovakia,
Romania, Serbia, Bulgaria, Montenegro and Albania.
Magyar Suzuki Corporation also plays a significant role in the motorcycle business in the region, providing
motorcycles to thirteen countries (the Czech Republic, Slovakia, Slovenia, Croatia, Serbia, Romania, Bosnia and
Herzegovina, Kosovo and Montenegro, Azerbaijan, Latvia, Estonia, and Albania) from its center in Esztergom.