In Russia, the market for light commercial vehicles (LCVs) showed a notable price surge in 2023. Second-hand LCVs climbed by about 49 percent, while new models rose by roughly 15 percent, according to data compiled by a marketing agency. The findings illustrate a year of steady upward movement in both segments, reflecting broader shifts in supply, demand, and economic conditions impacting fleet purchases and depreciation cycles.
Specifically, the average price for a new LCV in the fourth quarter of 2023 rose by 14.6 percent from the same period in 2022, reaching around 3.6 million rubles. Over the course of the year, used LCVs also saw significant appreciation, with the average price increasing by 49.0 percent to about 1.9 million rubles, underscoring a robust secondary market alongside the new-vehicle segment.
Price dynamics for used LCVs remained on an upward trajectory throughout 2023. At the end of 2022, the typical used LCV price stood near 1.29 million rubles; by the third quarter of 2023 it surpassed 1.63 million rubles, and by year’s end it reached approximately 1.92 million rubles. These movements highlight strong demand for affordable commercial transport and the resilience of the used-vehicle sector amid fluctuating market conditions.
The price level for new commercial vehicles also tracked higher in 2023. At the close of 2022, the average stood at about 3.14 million rubles, then climbed to 3.52 million rubles in the third quarter and settled at around 3.6 million rubles by year-end. The synchronized rise in both new and used LCV prices signals sustained interest from fleets, small businesses, and independent operators that rely on reliable light-duty transport for daily operations.
Observing these shifts helps fleet managers and dealers gauge purchasing cycles, financing considerations, and resale expectations. The year saw robust activity across the LCV market, with price pressures emanating from limited supply, currency effects, and the ongoing need for economical, durable vehicles to support commercial activities across various sectors.