This chapter examines supply chain linkages of the Hungarian automotive industry by employing the concepts of integrated periphery and global value chains (GVCs). The automotive industry has been playing a significant role in the Hungarian economy since the early 1990s. Like other Central and Eastern European countries, the Hungarian automotive industry is highly integrated with the global (predominantly European) automotive value chains, but the backward linkages of the industry are rather limited in the domestic economy. Indeed, a dual structure can be observed in the Hungarian automotive GVCs. Multinational subsidiaries and some large local capital firms are engaged in export and higher value-added economic activities (including some R&D activities), while the others, characterised by small local capital firms with limited human resources, are engaged in lower value-added activities, producing simple parts as Tier-2/3 suppliers. This study reveals the high integration of Hungary in the automotive GVCs in international comparison by using input-output analysis, while it also indicates a low Hungarian value-added share and the increased dominance of German value-added. It seems that Hungary is characterised by a typical integrated peripheral state. The Hungarian automotive industry is stuck at the bottom of the GVC smile curve by serving mainly manufacturing-type value-added activities.