OREANDA-NEWS  The used car market in Russia grew by 17 percent in 2023, to 5.69 million units. The fact that Russians rushed to buy cars with their hands is reported by the Autostat agency.

The volume of the used car market in 2023 was 3.5 percent higher than the result of the pandemic 2020 (5.5 million cars) and 4.4 percent lower than the results of the pre-crisis 2021 (5.95 million). The old models — Ford Focus and Lada Samara - remained the market leader. Sales of American cars increased by 15 percent, to 119.8 thousand units, and Russian cars — by 2.9 percent, to 116.6 thousand units.

Kia Rio (sales amounted to 110.5 thousand units) and Hyundai Solaris (110 thousand units) also entered the top 5 popular used cars, their figures for the year increased by 9.8 and 6.6 percent, respectively. Toyota Corolla closes the top five most in—demand cars - 102.4 thousand units were sold, plus 21.6 percent in annual terms.

The average cost of a new car in 2023 increased by 17.3 percent, to 3.7 million rubles, and a used one — by 28 percent, to 2.2 million.

Since the beginning of 2024, car dealers in Russia have been offering discounts on new passenger cars more often. Sellers are forced to offer various promotions due to record warehouse occupancy - in January, the stock of Chinese new cars rose to its highest since the beginning of 2022 and began to reach two—month sales volumes. To continue selling cars, many brands like Chery, Exeed and Haval began offering various promotions as early as December. "They began to realize that there is not enough market for everyone and they have to dump somewhere," explained Nikolai Ivanov, director of the new car sales department at Rolf.