The expert named the reasons for the decline in sales of new cars in Russia

New car sales in Russia continue to decline, and experts predict that this trend will continue in the coming months. Sales are expected to decrease by 10-15% in December 2024 and January 2025. However, already in February 2025, according to Autostat, the drop was 25% compared to the same period last year, Anastasia Baibarosha, head of the department for work with passenger vehicle representatives at Alfa-Leasing Group, told Izvestia on March 6.

"One of the key reasons for the decrease in demand was the increase in prices for new cars caused by an increase in the recycling fee. At the same time, interest rates on loans remained at the same level, which does not help to increase the interest of buyers," the expert notes.

According to her, many potential customers are postponing the purchase in anticipation of a possible rate cut and improved credit conditions," the specialist explained. In addition, another factor contributing to the decline in sales was the strengthening of the ruble.

"The fall in the dollar exchange rate below 90 rubles, as well as the warming of relations between Russia and the United States with promises of lifting some sanctions forced buyers to take a break. A decrease in car prices due to the strengthening of the national currency, if it happens, will not happen before the end of April or May," the expert added.

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According to the expert, February is traditionally a month with low sales, but since the end of March, the market expects an upturn.

"Spring demand will be significant, despite the current economic challenges. This is due to the pressure of pent—up demand: there are practically no decent offers left on the secondary market, and prices for used cars have approached the cost of new ones," the analyst noted.

The expert also stressed that the possibility of refinancing loans after lowering the key interest rate may encourage buyers to purchase cars on current terms. However, it is unlikely to be possible to achieve the figures of last year in the spring season of 2025. By the end of the year, sales may decrease by about 10%.

Earlier, on February 27, Sergey Tselikov, director of the Autostat analytical agency, said that Russia had recorded a historical record for sales of new pickups in a year. By the end of last year, 29.2 thousand such vehicles were sold in the country, with an annual increase of 65%.