In 2023, the average price tag for a brand-new car rose significantly, climbing about 17.3 percent to reach 3.7 million rubles, according to a study conducted by the Avto.ru Otsenka service and reported by TASS. This shift marks a notable uptick in new-car values over the year and highlights a broader pattern seen across the market.
Over the preceding twelve months, the typical price for a new car advanced by 17.3 percent, settling at 3.7 million rubles. Meanwhile, the average price of a used car by year-end exceeded 2.2 million rubles, indicating an increase of roughly 28 percent compared with January figures. This broader price evolution reflects sustained demand and supply dynamics within both new and pre-owned markets.
Within the new-car segment, some brands stood out for larger price movements. Kia led the way with substantial increases: the Seltos crossover climbed to about 3.19 million rubles, marking a rise near 27 percent, while the K5 sedan rose to around 4 million rubles, also up about 27 percent. Domestic players were not immune to pressure, with the Lada Granta seeing its price rise to roughly 982 thousand rubles, a gain of about 25 percent from the previous year.
On the used-car side, certain models posted the steepest price gains. The Kia Rio, Hyundai Solaris, and Volkswagen Jetta all recorded price increases nearing 40 percent in 2023, with average prices for each model converging near the one-million-ruble mark. These shifts illustrate a market where demand remains robust even as prices escalate across both new and used inventories.
Forecasts at the time suggested that price growth for vehicles might slow below traditional expectations of a 1-2 percent increase at the start of 2024. Dealers were managing sizeable inventories, which influenced pricing strategies as the year turned. This situation prompted continued promotions and incentives as the market adjusted to shifting consumer conditions and the need to clear stock.
Dealers reacted by rolling out discounts and favorable financing as the 2023 model-year cars remained available. Some buyers found opportunities to purchase Chinese crossover models at appealing prices, often with cash deals that cut costs even further, sometimes with a discount of around 200 thousand rubles plus additional equipment. The overall pricing environment during this period reflected a mix of strategic discounting and a focus on moving existing stock before year-end cycles.
Additionally, the automotive manufacturing landscape shifted as discussions about factory operations and production plans influenced pricing expectations. For instance, plans to restart production at certain facilities in the coming year contributed to a broader sense of market recalibration, with implications for both supply and pricing in the near term. These developments underscored the complex interplay between production capacity, dealer incentives, and consumer demand in shaping the automotive market across the region.