In February, the Russian market saw a notable surge in used car purchases, with a total expenditure reaching 454.3 billion rubles. Industry data indicates this figure was 19% higher than February 2023 and around 22% above January’s level, signaling sustained momentum in second-hand car demand. The figures come from analyses by Otkritie Auto and the Autostat agency, with insights compiled by TASS.
Among February buyers, vehicles aged more than ten years were the most sought after, commanding a dominant share of 41.2% of spending, equivalent to 187 billion rubles. Cars in the five to nine year bracket followed, representing 33.2% of the market or about 150.7 billion rubles. The remaining portion, roughly 116.6 billion rubles, was spent on cars younger than five years, reflecting broad consumer interest across age bands while older models remained particularly appealing to price-conscious buyers.
Brand popularity in the used car sector showed a clear tilt toward European and Japanese makes, which together accounted for roughly seven tenths of the market share during February. The appeal of Korean, Russian, and American brands trailed behind but still played a meaningful role in the mix. Notably, Chinese-made used cars carried the smallest share in this market segment, underscoring regional preferences and supply dynamics that have historically shaped buying choices in the Russian secondary market.
Industry observers note a record pace of vehicle lending in Russia during February, marking a high point over the past three years. This suggests financing options were accessible and attractive enough to sustain demand even as buyers weighed the cost of ownership in a fluctuating macro environment. Market participants in Canada and the United States may observe parallels in how used vehicle financing can stimulate turnover, though the local economics and regulatory landscapes differ.
Meanwhile, central banking authorities have clarified factors that limit sharp price increases in the automotive sector. This discourse helps explain why buyers so often evaluate total cost of ownership when choosing between new and used vehicles, and what role financing terms, depreciation, and currency dynamics play in shaping price trends across markets today.