Unsold European Cars Pile Up in Russian Showrooms
Moscow, Russia – As 2024 draws to a close, a surprising sight greets visitors to Russian car dealerships: rows of unsold foreign vehicles from 2022 and earlier, gathering dust on showroom floors. The glut primarily consists of European cars, with approximately 170 models still waiting for buyers. In addition, around 150 Chinese-made vehicles and 60 cars from Korean manufacturers also languish unsold, reflecting the dramatic shift in the Russian car market.
"There are roughly 60 offers for 2022 Korean vehicles listed on dealership websites. Remarkably, despite sluggish customer demand, prices are steadily climbing year after year. For instance, dealers are asking 2.6 million rubles for a 2022 Kia Seltos at the end of 2024, while last year it was priced at 2.3 million rubles, and in 2022, a more tantalizing 1.8 million rubles would have secured you one," detailed Izvestia, a leading Russian news outlet.
The situation is particularly grim within the luxury European car segment.
“In the category of expensive European brands, the majority of cars are worth more than seven million rubles,” the publication noted.
Experts cite the unprecedented difficulty of maintaining these foreign vehicles as a major contributor to the declining demand. Additionally, the lack of access to full software packages and maintenance options significantly diminishes their appeal for potential buyers in the resale market.
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In response to this evolving landscape, Russian car dealers are strategically pivoting towards Chinese brands, which are generally more readily available and offer more competitive pricing.
This trend coincides with a surge in demand for used cars within the Russian market. Analysts have reported a remarkable 15.8% increase in the sales of vehicles priced below 1.5 million rubles, underlining the growing preference for affordable, readily available transportation options.
The unmet demand for popular models like the Kia Seltos in Russia illustrates the far-reaching consequences of global automotive supply chain disruptions and geopolitical tensions. The widespread adoption of Chinese brands highlights the dynamism of the Russian car market as dealerships adapt to a new reality.
2024-12-01 22:05:00
#Russian #dealers #rid #cars #outdated #brands
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