Less than one in five Russian families can afford a new car priced at 900 thousand rubles, a figure shown by RIA Novosti research. The study highlights how affordability has shifted as prices rise and incomes evolve, painting a clear picture of regional disparities in consumer credit readiness.
Back in 2021, a budget car carried a price tag of about 700,000 rubles. Since then, car prices have climbed nearly 30 percent, and affordability has declined by about 1.3 percentage points. The change reflects broader trends in the automotive market and household budgeting in the country over that period.
Researchers evaluated regional capacity to buy and maintain a new inexpensive car on credit, with a 900,000 ruble benchmark. The share of households able to purchase such a vehicle varies widely, with northern regions showing higher credit readiness and some other areas showing much lower figures. The northern territories lead the ranking, while many southern and inland regions trail behind.
The Yamalo-Nenets Autonomous Okrug topped the list, with a regional score near 56.9 percent. Following are the other regions with notable yet contrasting levels of affordability: Chukotka Autonomous Okrug around 48.9 percent, Magadan Region about 44.2 percent, Khanty-Mansi Autonomous Okrug about 40.4 percent, and Nenets Autonomous Okrug around 38.1 percent. These results suggest that wage levels and a younger, smaller household profile in the north contribute to greater disposable income for current consumption and credit repayments.
Moscow and St. Petersburg ranked somewhat further down, occupying positions six and ten in the table. At the opposite end of the spectrum, Ingushetia held the 85th place, where only about 2.6 percent of families could afford a new car on credit. Other regions with limited purchasing power include Chechnya at roughly 2.8 percent, Kabardino-Balkaria near 4.3 percent, Dagestan about 4.4 percent, and Kalmykia around 4.9 percent.
Experts point out that the concentration of wealth in northern regions, coupled with a high share of young workers without dependent children, reduces the overall household expenses for everyday needs. This combination helps explain why northern families are more likely to consider a financed purchase of a new car, even when prices remain high.
In summary, the survey captures regional differences in the ability to buy and sustain a modern car on credit. It also notes the ongoing impact of operating costs and long-term ownership expenses on household budgets across the country.
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To assess regional differences in affordability, experts conducted a survey that ranked regions by the proportion of households able to buy a new car on credit and cover ongoing operation costs.
Novosti [RIA Novosti]
Photo: Depositphotos [Depositphotos]
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