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Fewer Russians can afford new cars. Car prices continue to grow, and the number ...

Sanctions in action: Russians move on used cars instead of new

Fewer Russians can afford new cars. Car prices continue to grow, and the number of brands in the market continues to decline. It is becoming more and more difficult for the Russians to buy new cars because of numerous sanctions. Many largest car manufacturers continue to leave the Russian market. This was reported in Reuters. In Russia, the cost of new cars decreased more than twice in 2022. The automotive industry felt the full force of Western sanctions. Last year, the Russians spent 52% less ($ 20.

4 billion) on new cars than in 2021. The number of cars sold without mileage fell by 58. 8%. The production of new cars was also affected. In 2022, the lowest rate since the collapse of the USSR was recorded. Autostat analytical agency notes that the total cost of new and used cars has fallen by more than 15% in 2022. It happened because of inflation, price growth and a decrease in living standards. In Russia, there are almost three -quarters of all cars sold. In 2021, their share was 55%.

Most often, Russians buy cheap "Zhiguli" and Chinese cars. Premium brands occupy less than 1% of the market. Autostat experts shared that the average price sold in 2022 in the Russian Federation increased by 17% to 2. 33 million rubles ($ 31,40). Used cars are on average 890 thousand rubles ($ 11,900). The Czech car manufacturer Skoda stated that the supply of new cars to Russia fell 80% in 2022. Later, the entire Volkswagen AG concern closed its Russian factories and stopped import.