Russians start buying up cars before the increase in scrappage duty

Russians became 34.6% more often interested in buying new cars in the fall of 2024 compared to the same period last year, car buying aggregators told Izvestia.

More expensive for yourself: Russians are warned of rising prices for new cars

Several factors influence the price increase

The leader in demand among brands was Lada, which received a share of 23.6%. Also in the top five were Haval (10%), Chery (7.2%), Geely (7%) and Changan (5.4%), Avito Auto noted.

According to Avto.ru, users are 27% more interested in buying new cars. The Russian market continued to recover after a significant decline in the past two years, analysts said.

Consumer interest has shifted significantly towards new models due to increased supply from manufacturers, the emergence of new brands and a large number of special offers from dealers.

"The fall of 2024 clearly showed the transformation of the Russian car market. We see a clear polarization between the traditional leader Lada, which occupies almost a quarter of the new car market, and the strong presence of Chinese brands, whose total share reaches 68%. Chinese concerns are strengthening their positions in the Russian market, including at the expense of new models," said Artem Khomutinnikov, head of sales of "New Cars" in Avito Auto.

Experts believe that the growth of utilization fee in October 2024 and its expected increase from January 1, 2025 makes buyers consider a new car as an investment.

Read more in the exclusive material of Izvestia:

Utilization stories: Russians buy up cars before the increase in payments