Grant recipients: Russians spent a record amount on cars
Russian motorists are ready to spend significant sums on new cars. Last year, the market grew more in monetary terms than in the number of cars sold. Izvestia analyzed which models brought the most money to automobile companies.
According to Avtostat Info, in 2024, the revenue from the sale of passenger cars in Russia will reach 4.6 trillion rubles. This is 62.5% more than in 2023 - 2.83 trillion rubles. For comparison, in 2021, Russians spent 1.47 trillion rubles on new cars.
Monthly revenue began a serious growth from the middle of 2023. In 2024, the growth continued, and against the background of the indexation of the utilization fee, it reached peak values of 477 billion rubles in March and 500 billion rubles in October.
We made more money than we sold
In 2024, Russians spent the most money on Lada - 547.3 billion rubles, which is 79.8% more than a year earlier. And sales of the Russian brand in quantitative terms, according to Avtostat Info, grew by only 34% to 439,035 units. AvtoVAZ itself cites a different sales figure - 458,933 units, including 11,925 commercial vehicles.
In 2023, Chery was the revenue leader with a result of 341 billion rubles, but a year later, the Chinese brand is only in fourth place. Spending on Chery cars increased by 31%, while sales growth amounted to 32%.
The leader in revenue among foreign cars in 2024 was Geely, which showed a result of 524.5 billion rubles close to Lada. The growth to last year amounted to an impressive 73.7%, while sales grew by 59%. Haval closes the top-3 brands with the result of 492.6 billion rubles (+79%) and sales growth by 70%.
The most money-making models
Lada Granta and Vesta brought the most to AvtoVAZ - 207.8 and 195.5 billion rubles. However, Russians spent much more money on Geely Monjaro and Haval Jolion - 214 and 200.6 billion rubles, which is explained by the difference in prices for VAZ cars and "Chinese". Now, according to the official website, the most affordable Granta in sedan body costs from 750 thousand to 1 million 333 thousand rubles. Vesta sedan will cost Br1.24-1.960 million. At the same time, the recommended retail price of the crossover Geely Monjaro is Br4.6-5 million, while Haval Jolion - from more than two million to Br2 million 950 thousand.
Nevertheless, AvtoVAZ, judging by Avtostat Info statistics, with a similar number of Granta sold (+3% by 2023) was able to earn almost 30% more in money. If at the beginning of 2023 the base Granta, according to Avtostat, cost 678.3 thousand rubles, a year later it already cost 699.9 thousand rubles. Prices for other car configurations have changed as well.
Sales of Monjaro for the same period increased by 138%, and revenue - by 133.6%. The results of Haval Jolion - 51% and 65.8%, respectively. These cars appreciated moderately in price.
Unofficial premium
The premium segment was led by the Chinese brand Lixiang, which, despite the lack of official deliveries, experienced rapid growth in 2024: Russians spent 188.2 billion rubles on these cars. In second place is Exeed, which, despite falling sales, was able to slightly increase revenue.
In third place are Mercedes-Benz cars supplied to our country through alternative routes. Fans of the German premium brand spent 153.6 billion rubles on its models, 18.8% more than in 2023, and bought 8.7% more cars.
Became less affordable
The non-linear growth of revenue and sales in units is due to the growth of the weighted average price of a new car, which added almost 6% over the year, says Renat Tyukteev, Deputy General Director for New Car Sales at Avilon AG. According to him, the main price growth occurred in the second half of last year.
- The 48% growth in passenger car sales and the average price growth gave a total revenue growth of 62.54%," said Renat Tyukteev.
The difference between the growth of sales and the growth of expenses indicates the increase in prices for models, as well as changes in their equipment, which is relevant for almost all car brands, said Irina Frank, Managing Director of Frank Auto.
- Judging by the data presented, the availability of budget cars has indeed decreased. For example, for Lada Granta, a noticeable increase in prices (+29.63%) with a modest growth in sales (+3%) signals that this model is already less available for a certain segment of consumers," Irina Frank told Izvestia.
"They have much more in money"
Car purchase costs reflect value, notes Igor Morzharetto, a partner at Avtostat.
- AvtoVAZ has 30% of the market in units, but only 10% in money. The average cost of a model of AvtoVAZ, let's say, is 1 million 300 thousand rubles, while Chery is over 3 million. It turns out that some Chinese brands, which occupy approximately 10% of the market, have much more in money. During the year, all models and brands have become more expensive in one way or another or announced changes in the configuration," said the expert.
According to him, the increase in the size of the scrappage fee has not yet greatly affected the prices of Chinese cars.
- Stocks are quite large. Automakers have not yet sold out the cars imported before the increase in duty," said Igor Morzharetto.
