cars in Russia will begin to fall in price, some models will go down in price by 20-25%

Cars in Russia will get cheaper, it concerns both new cars and cars presented in the secondary market. This was reported by Nikolay Vavilov, a specialist of Total Research Strategic Research Department.

According to the expert, cars in the secondary market have been actively falling in price for about a month, if we count up from the peak prices in early March. Thus, they have already lost about 10% of value, and will continue to fall in price. With the trade, according to the expert, you can get a 20% discount on the declared price. And for some models the decrease can reach 25%. The reasons are too big an appetite of sellers, which has greatly increased over the past two years, and lack of demand, fueled by lack of credit programs.

New cars will also see a drop in prices. According to the expert, the European concerns will not raise the price tag after returning to Russia – they need to compensate for the fall in profits. Prices may fall by at least 25% from the current, not quite adequate, levels. As for the current situation in the market, now, according to Vavilov, “the growth of prices is provoked by the deficit of cars, but gradually this factor will begin to disappear”.

Asian manufacturers’ cars will also get cheaper. “But in general, if we talk about Asia, we can say that from the current prices, new cars may well get cheaper by another 10-15% – the exchange rate has stabilized, logistics are becoming clearer,” said the economist.

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