In Russia, the used-car market is easing prices as dealers actively work to meet demand despite higher borrowing costs. The shift is seen as a practical move by businesses to keep Russians buying cars while the Central Bank’s increased interest rate cools overall lending. A leading Russian trade publication captured the trend with observations from the sector: the market is adjusting, and price cuts are becoming a common tool to attract buyers.
According to Vladimir Zholobov, who heads second-hand car sales at Avtodom and Avtospetstsentr, dealers are both reducing prices and presenting compelling offers to entice customers. He explained that demand for used vehicles is notably weaker now than it was in the May-June 2023 window. Goods imported to Russia via parallel exports have largely moved through the market, signaling a shift in supply chains and consumer access. Maxim Solodovnik, who directs the used-car department at Fresh, expects renewed interest in used cars to emerge by December, aligning with the traditional seasonal rise in vehicle purchases as people prepare for the New Year.
There is also a broader narrative about price expectations and market sentiment. Anecdotal reports from Kostroma describe a paradox where some buyers encounter inflated prices or inflated perceptions of value, with chatter online suggesting that one million rubles could be asked for a car that does not exist. The industry has long anticipated a surge in second-hand sales, and current discussions reflect a mix of caution, optimism, and the willingness of sellers to adjust to real market conditions. While the practical reality points to growing interest, the exact trajectory will continue to hinge on consumer confidence, credit availability, and the ongoing flow of imported vehicles into the market.