In 2022 the Russian market for luxury cars grew by 22 percent while the so‑called luxury tax on these vehicles rose by a third, a trend documented by RBC based on calculations from FinExpertiza, a network of audit and consulting firms relying on data from the Federal Tax Service.
At the close of 2022 the number of luxury cars in Russia surpassed 19,800, up from 16,200 at the end of 2021. Four years earlier, in 2019, about 8,100 individuals owned a vehicle in this category. Taken together, these figures show that the stock of luxury cars more than doubled over the four‑year period.
Tax receipts tied to luxury cars also climbed. In the previous year the amount collected rose by 31 percent, reaching roughly 3.34 billion rubles. The typical tax liability for 2022 stood at around 169 thousand rubles on average per vehicle.
In April 2023 the Russian Federal Tax Service released a list of car models priced above 10 million rubles whose owners would owe the higher transport tax, commonly referred to as the luxury tax. The list enumerates 449 models, including popular names such as the Audi A8, Bentley Continental GT, BMW i8, Ferrari Roma, Maserati Quattroporte, Mercedes‑Benz GLE, Porsche Panamera and Rolls‑Royce Phantom, among others. In 2022 there were 345 cars on record in this category, meaning 104 additional models were added in the updated list.
Industry commentary around the period suggested that car sales could decline by as much as 10 percent by year’s end, reflecting broader economic pressures and shifting consumer behavior.
The expansion in the luxury‑car segment and the tightening of the tax regime have drawn attention to how premium vehicle ownership is evolving in Russia. Analysts from FinExpertiza emphasize that the growth reflects both rising affluence among a subset of buyers and a cautious alignment with tax policy changes aimed at higher‑value imports. The trend underscores a dynamic market where model variety and price thresholds can influence ownership patterns, tax planning, and the overall premium‑car ecosystem in the country.
In assessing future developments, observers note that ongoing policy adjustments, currency movements, and import conditions will continue to shape the size and composition of the luxury car fleet in Russia. The interaction between market demand and the luxury tax regime remains a focal point for policymakers, automotive brands, and private buyers alike, with governance and tax administration playing a critical role in determining ownership costs and incentives. The broader context for Canadian and U.S. observers is the way premium car ownership responds to domestic tax frameworks, consumer sentiment, and fluctuations in wealth across North American markets.
Citations: FinExpertiza analyses based on Federal Tax Service data reported by RBC, with ongoing industry commentary from financial and automotive experts.