Russian residents spent 5.33 trillion rubles on used car purchases from January through November 2023, marking a record over the past two years. This finding comes from a joint report by Avtostat and Otkritie Auto, summarized by TASS.
In the 11 months of 2023, consumer outlays on second-hand vehicles rose to 5.33 trillion rubles, surpassing the previous peak of 4.25 trillion rubles set in the prior year, the study noted. The data highlights a robust demand for used cars as financing options and market conditions evolved through the autumn season.
According to the results, Russians spent 488.8 billion rubles on used car acquisitions in late autumn. This figure represents an 18.1% increase over November 2022 and a 5.6% decline from October 2023, reflecting typical month-to-month fluctuations at the end of the season as buyers adjusted to market conditions and price dynamics.
Earlier projections from the Ministry of Industry and Trade suggested that the Russian car market would resume growth in 2024, with sales potentially reaching 1.3 million units. The ministry also outlined expectations that the market would return to a level similar to the average annual sales seen between 2015 and 2021 by 2026. A steady growth pace of about 1% per year was anticipated from 2027 onward. If these trajectories hold, nationwide auto sales could approach 1.8 million vehicles annually by 2030 and approach 1.9 million by 2035, signaling a gradual but sustained recovery in the sector.
Additionally, 2023 marked a historic shift in global supply chains as China emerged as the world’s top automobile exporter for the first time. The country boosted shipments to key markets, including Russia and Mexico. In the first 11 months of 2023, China delivered around 730 thousand vehicles to Russia, a figure that dwarfed the 2022 total for the same period by roughly sevenfold, underscoring China’s growing role in the global automotive landscape.
There is a broad sense that Russian households are regaining purchasing power for new cars as economic conditions stabilise and access to credit improves. This trend aligns with ongoing industry forecasts that emphasize gradual market rebound and steady demand in both new and used segments.