Russians spent a record Br7 trillion on used cars over the year

At the end of 2024, Russian residents will spend Br6.95 trillion on the purchase of used cars. The financial capacity of the secondary car market has set a new record, and this is happening for the ninth year in a row, according to the analytical agency Avtostat, which conducted a study jointly with Gazprombank Auto Leasing on January 30.

According to analysts, the cost of buying used cars last year increased by 19% compared to the level of a year ago. This happened for two main reasons: their weighted average price for the year increased by 13%, and the volume of the secondary market grew by 6%.

The least amount of money was spent on buying cars under 5 years old. Br2 trillion was spent on them, which is 28.7% of the total amount. Most of all - on cars aged 10 years and older (Br2.76 trillion; 39.8%).

The strongest increase in spending on the purchase of used cars of Chinese brands - 2.3 times by 2023. The amount amounted to Br273.2 billion, but the share in the financial capacity is small - 3.9%. In terms of costs, European brands' used cars are still leading, costing Br2.46 trillion in 2024.

Crossovers and SUVs (SUV segment) remain the leaders in terms of expenditures in the secondary market, costing Br3.31 trillion - 47.6% of the total amount. Second position, with a noticeable lag was taken by used cars of B-class (Br1.15 trillion).

Eastern threat: what Chinese car buyers risk

Dealers warned of higher car prices, difficulties with spare parts and reduction in the number of car dealerships

The day before, it was reported that the secondary market of foreign brands has changed its leader by the end of 2024. Kia Rio has become the best-seller, while Ford Focus, which had previously held the first place, has fallen to the third line.

January 24, it became known that the number of offers of used Chinese cars from private sellers and dealers in Russia has increased significantly. The overall share of Chinese cars in the used car market is still insignificant. However, in the category of used cars up to five years old, Chinese cars already occupy 21%, second only to German cars.