It turned out in which regions it is more profitable for families to buy a new car

Less than 20% of Russian families can afford to buy a new car for 900 thousand rubles (this is now a budget car!), according to research by RIA Novosti.

In 2021, a cheap car was valued at 700,000 rubles, so the decrease in affordability (by 1.3 pp) is largely due to an almost 30% increase in car prices.

Experts assessed the capabilities of the regions in terms of the share of families that can buy and maintain an inexpensive new car on credit (900,000 rubles). Buy a new car higher among the inhabitants of the northern regions and lower among the whites.

The leader of the rating was the Yamalo-Nenets Autonomous Okrug with a score of 56.9%.

Thereafter, the five regions were ranked as follows (in %):

• Chukotka Autonomous Okrug – 48.9
• Magadan Region – 44.2
• Khanty-Mansi Autonomous Okrug – Ugra – 40.4
• Nenets Autonomous Okrug – 38.1.

The fact that only the northern regions are in the top 5 is attributed by experts to the high level of wages and a significant proportion of households consisting of young workers without children, which reduces household expenditure on current consumption.

Moscow and St. Petersburg took only 6th and 10th places in this ranking.

On the last line of the rating (85th place) is Ingushetia, where only 2.6% of families can afford to buy a new car for 900 thousand rubles.

The following regions also have few opportunities:

• Chechnya – 2.8%
• Kabardino-Balkaria – 4.3%,
• Dagestan – 4.4%
• Kalmykia – 4.9%.

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To assess regional differences in the affordability of buying a new car, the experts conducted a survey and ranked the regions based on the proportion of households that can afford to buy a new car on credit and current costs associated with its operation.

Source: RIA Novosti

Photo: Depositphotos