The Russian car market is depressed, there is a risk that it will collapse in 2024. This was announced in a conversation with URA.RU by Sergei Arbuzov, a columnist for the Drom auto portal.
“The Russian market of new passenger cars is entering 2024 in a severely depressed state. Recycling fees for both new and used cars have never been so high. Due to the increase in recycling collection, supplies of cars with an engine capacity of more than three liters are already being reduced to a minimum,” said Sergei Arbuzov.
Dealer warehouses are overcrowded, the expert noted. “In addition, the Russian car market is oversaturated. Supply greatly exceeds demand. Every month there is a large surplus of cars. Warehouses are overstocked. Almost all companies have problems with sales. Even if the recycling fee is not increased again in 2024, the ruble/dollar exchange rate does not fall even more, and the key rate does not rise even more, demand for cars may collapse. It is possible that circumstances will arise in which the market will completely collapse,” the agency’s interlocutor noted.
SberAuto CEO Ilya Fedorchenko said that we should expect serious competition in the new car market. “We expect to see bolder vehicles in terms of design, technology and powertrain as automakers seek to reach the widest possible pool of customers by expanding their offerings with niche products. Accordingly, competition in the new car market will gradually increase. You can already see that Chinese automakers have begun to offer discounts on their bestsellers in order to support ambitious sales plans,” the specialist added.
Autocode expert, blogger and professional car selector Igor Shagapov noted that cars will continue to rise in price on the secondary market. “In the used car market, the upward trend in price will continue. Because there is no decline in purchasing power yet. The budget of up to a million rubles continues to be the most affected and hardest hit in the used car segment. Everything is very bad in this segment, there are practically no alternatives: Volkswagen Polo, Kia Rio, Hyundai Solaris. Once every two to three months, prices in this segment increase by 5-7%,” the expert emphasized.
2024-01-06 02:03:00
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