Last month, prices for second-hand cars between 3 and 10 years old fell in Russia for the first time in a year. Analysts at Avto.ru Business reported this.
“Despite news that the rules for paying recycling fees for cars imported from EAEU countries have been tightened, there has been no increase in interest in second-hand cars. While interest rates increased only 7% in March compared to February, the number of offers increased by 6%. Therefore, the distribution of demand has remained almost unchanged, and the lead time for selling used cars in dealer warehouses is still high. This forced professional players to lower prices a little, and private sellers did the same,” explained Daniil Shkurygin, development director for Avto.ru Business.
Compared with February, the average cost of second-hand cars for private owners in Russia fell by 4% to 1.41 million rubles. Dealers didn’t lower the price tag too much. That is, if in February the value of a used car was on average 2.1 million rubles, in March it cost 2.05 million rubles (-2.5%).
Among private sellers, the average time to execute offers increased by one day compared to February. This period remained unchanged at dealers and reached 47 days. It is stated that the most used model in the economy class is Lada Granta, in the middle class is Toyota Camry and in the premium class is BMW 5 Series.
Before that it became clear how ready he was to spend Russians will buy cars. The majority of residents (88%) are considering purchasing a used car, the cost of which is on average 556 thousand rubles. Mostly Russians prefer Lada, Toyota, Nissan and Renault cars. A large number of buyers choose a car based on price and quality.
Popular used cars in Russia in March 2024 price dropped It ranges from 5% to 18%. This is due to stagnation in the secondary market. Thus, the prices of Lada Granta, Lada Niva Legend and Lada Vesta cars decreased the most. Kia Rio and Hyundai Creta were among the cars that showed a double-digit price decrease.
Previously UAZ raised prices of their cars.
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Source: Gazeta
Anika Rood is an author at “Social Bites”. She is an automobile enthusiast who writes about the latest developments and news in the automobile industry. With a deep understanding of the latest technologies and a passion for writing, Anika provides insightful and engaging articles that keep her readers informed and up-to-date on the latest happenings in the world of automobiles.