The average cost of used cars from January to June 2024 inclusive, according to the analytical agency Autostat decreased by 4.5% - from 1.63 to 1.56 million rubles. Prices on the secondary market have been steadily falling for the fourth month in a row. Car dealers and experts interviewed by…
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Russians have one month left to buy used cars before prices rise “Avtodom”: Prices for used cars will rise in autumn 07.17.2024, 19:31
By
ANIKA
July 22, 2024
The average cost of used cars from January to June 2024 inclusive, according to the analytical agency Autostat
decreased by 4.5% – from 1.63 to 1.56 million rubles.
Prices on the secondary market have been steadily falling for the fourth month in a row. Car dealers and experts interviewed by socialbites.ca explain that this trend is largely due to the large supply of old cars and the relative scarcity of new ones. They warn that in the next few months, used cars in Russia will rise in price along with new ones.
“If we talk about mass brands, price declines are experienced due to seasonality and uncertainty about exchange rates and key currency in the vector of economic development.
“The decline in average cost will continue at least until September,” he said.
– Andrey Grishakov, director of the used cars division of the Avtodom and AvtoSpetsTsentr group of companies, states in an interview with socialbites.ca.
He added that the average cost of second-hand cars has decreased due to restrictions on car imports from abroad, which has affected the market being flooded with cars brought through parallel import channels.
Prices will increase soon
According to auto market expert Alexander Usoltsev, favorable conditions for car buyers in the secondary market will not last long.
“The recycling fee for new cars will increase significantly, which will reduce their availability in all segments. And it looks like
“As a result, used cars will also become more expensive,” he said.
– Usoltsev tells socialbites.ca.
Exactly what was expected of him
to increase From October 1, “scrap” will especially hit the segment of relatively new cars, the cost of which ranges from 2 to 3 million rubles.
“Cars are becoming more expensive every year, and at a rate higher than the dynamics of inflation. We can safely say that there is no better moment to buy a car than today,” Usoltsev said.
Igor Morzharetto, partner at the Autostat analytical agency, notes that sellers are beginning to realize that their expectations do not coincide with market realities, and they need to reduce their appetite for selling a car.
“While the primary market was falling, the secondary market was actively growing. Now, since the beginning of the year, the situation with new cars has become more or less positive. There are still serious discounts, many brands have cars that will not be sold in 2023, so there is some stagnation in the secondary market,” Morzharetto explains to socialbites.ca.
According to him, price stagnation is most pronounced in the segment of 2 million rubles and above. At the same time, the most in demand and scarce are new cars aged from 3 to 7 years.
There is a choice
The founder of the Automarketer project, Oleg Moseev, says that liquid used cars are not becoming cheaper, the decrease in the average price is explained by the change in the market structure.
“The assortment has changed: there are fewer new foreign cars and older ones have a larger share. The number of drivers willing to sell a new foreign car is decreasing.
“In the past, people could easily change cars after three years, but now they do not do so even after five years,” he said.
— Moseev explained in a conversation with socialbites.ca.
According to him, while a few years ago the prices of second-hand cars rose 6-9 months after the increase in new cars, this delay has now been reduced to three months.
“The prices of new cars are already prohibitive for many people. Since July 1, the Central Bank’s vehicle loan requirements have increased, everyone expects an increase in the discount rate, and an increase in the recycling fee is also expected. In this environment, some buyers will turn to the secondary market,” he predicts.
Morzharetto admits that there are serious prerequisites for a sharp increase in prices for new cars, which will also affect the cost of used cars.
“I am afraid that the discount rate will increase. Credit, which is the engine of the automobile market, will become inaccessible to many people. Also, if the recycling fee is increased too sharply, the new car market will stop and the used market will start to grow,” he said.
Prices for used cars in Russia have fallen sharply: a 4.5% decrease is recorded in the first half of 2024. Experts warn that it is better not to delay the purchase, as prices on the secondary market will rise after the scrap tax on new cars is increased.
Source: Gazeta
