Dealers announced the abolition of discounts on cars in the summer
Prices for new cars for the end user will start to rise this summer, as distributors are already starting to reduce discount programs that were active in the spring. This was stated by Nikolai Ivanov, Director of the New Cars Department at Rolf, Rossiyskaya Gazeta reported on June 3.
As the specialist explained, the summer period in the dealer business has never been a high season. He assumed that sales would be at the level of 90-95 thousand new cars in each of the summer months. This is better than the figures in the first quarter, but much worse than last year, when sales were at the level of 140-150 thousand cars per month. Now, according to Ivanov, the stock of cars in warehouses is enough for seven months of trade.
Maxim Agadzhanov, Managing Director of Alfa-Leasing Group, believes that the stock of cars from previous years will be exhausted by mid-July. At the same time, discounts and promotions on outdated models will cease to apply, and a noticeable price increase in the range of 10-15% is expected in July, he said. However, there is a chance that buying cars will become cheaper if the Bank of Russia decides to lower its key rate to 19% at the July meeting, he believes.
Renat Tyukteev, Deputy General Director for New Car Sales at Avilon AG, noted that this year the weighted average price of a new car decreased by 7% due to the fight against an oversupply of stocks and a large number of measures to support demand by market participants amid falling sales. In summer, the average price may rise by 3-4%, he predicts.
The day before, it was reported that the Russian Automobile Dealers Association (ROAD) appealed to the Federal Antimonopoly Service with a proposal to ban direct online sales of cars by distributors and manufacturers. Dealers argue for the initiative to protect consumers and maintain competition in the retail industry.
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