Second-hand car sales in Russia faced a notable slowdown in September, a trend highlighted by reports from Kommersant. The publication indicates a drop of around 10% in sales versus August, attributing the decline to rising vehicle prices and higher loan interest rates. While monthly volumes faltered, the long-term appetite for used cars remains resilient, with buyers continuing to seek affordable transport options despite economic headwinds.
Industry voices emphasise that demand for used vehicles continues to grow on an annual basis. Vladimir Zhelobov, who oversees used-car operations at Avtodom and Autospetscenter, told Kommersant that the overall year-on-year growth in the second-hand market hovered near 20%. This suggests that while September showed a monthly dip, the broader trend over the preceding year remained positive and supportive of sustained activity in the sector.
The average price of a used car in Russia reached 1,543,400 rubles in September 2023. A year-over-year comparison reveals a price increase of about 23%, equating to an uptick of 289,000 rubles since September 2022. In practical terms, the price of second-hand automobiles climbed by around a quarter over the course of the year, reflecting factors such as inflation, model availability, and consumer demand dynamics in the mid-market segment.
Earlier reports highlighted a sharper rise in the value of popular categories. Specifically, the average price for second-hand crossovers and SUVs surged by 30.3% during the third quarter of 2023, underscoring stronger demand for versatile, higher-margin models within the used-car market. This movement helped anchor overall price levels even as overall sales softened in certain months.
Looking beyond the September snapshot, market observers note that pricing and financing conditions continue to influence buyer behavior. While monthly sales can fluctuate due to macroeconomic factors, the used-car segment remains a critical option for Canadians and Americans considering value-driven purchases or interim mobility solutions. Analysts emphasise monitoring credit rates, vehicle inventories, and the evolving mix of available models to understand ongoing shifts in demand and pricing within the Russian market and in comparable markets abroad, where similar dynamics sometimes play out in parallel with consumer sentiment and lending conditions. In summary, the September data point fits into a broader narrative of gradual price growth and steady demand for used cars, with occasional month-to-month volatility shaped by financing costs and inflationary pressures, alongside more favorable long-term trajectories for value-seeking buyers.