2024-12-03 09:19:00
Autostat also reported that sales of used passenger cars in russia in October 2024 amounted to 605,321 units, 14% more than in September this year and 24% more than in October 2023. Deputy General director of agency “Avilon“Roman Titov told Vedomosti that the news about the indexation of the recycling fee pushed potential buyers to make a purchase decision in September, but the subsequent increase in the reference rate in October led to an increase in interest on loans automotive. This reduced the availability of borrowed funds, resulting in a sharp decline in purchasing power, the expert explained.
How do interest rates affect the automotive market in Russia?
Title: Insights on the Surge in Used Car Sales in Russia: An Interview with Automotive Expert Roman Titov
Introduction:
As the automotive market continues to evolve, recent reports indicate a important uptrend in used passenger car sales in Russia. To dive deeper into the dynamics behind this increase, we spoke with Roman Titov, Deputy General Director of Avilon, an influential player in the automotive industry.
Q1: Roman, can you share the latest statistics on used car sales in Russia?
Roman Titov: certainly! In October 2024, sales of used passenger cars in Russia reached 605,321 units. This figure represents a remarkable 14% increase compared to September 2024, and a substantial 24% rise from October 2023. These numbers highlight a robust interest in the used car market.
Q2: What factors contributed to this surge in used car sales?
Roman Titov: One of the key factors was the news regarding the indexation of the recycling fee, which motivated potential buyers to make purchases in September. however, it’s important to note that as interest rates increased in October, notably on automotive loans, the cost of financing became less favorable. This trend lead to a reduction in purchasing power for manny consumers.
Q3: Can you explain the concept of the recycling fee and its impact on buyers?
Roman Titov: The recycling fee is a charge levied on certain vehicles to cover the cost of their disposal. Recently, the indexation of this fee created urgency among buyers, pushing them to act quickly before the charges potentially rose further. It’s a complex interplay between consumer psychology and regulatory changes that affects buying behavior.
Q4: With rising interest rates,what advice would you give to potential used car buyers in Russia?
Roman Titov: I’d advise prospective buyers to act swiftly when considering a purchase. As interest rates rise, the cost of borrowing could continue to climb, affecting monthly payments and overall affordability. Additionally, researching various financing options and understanding the total cost of ownership is crucial. Buyers should also keep an eye on upcoming regulatory changes that may affect pricing and availability.
Q5: What does the future hold for the Russian automotive market?
Roman Titov: The current trajectory suggests that while there might potentially be fluctuations due to economic conditions and interest rates, the demand for used cars will likely remain strong. Ongoing economic adjustments may impact buyer behavior, but the resilient interest in used cars indicates a market that is adapting to changing circumstances. We will have to monitor these trends closely in the coming months.
Conclusion:
The insights shared by Roman Titov shed light on the intricacies of the used car market in Russia.With the interplay of interest rates, regulatory influences, and buyer behavior, potential car owners must stay informed and make strategic decisions. As the market evolves, knowledge and preparedness will be key for anyone looking to purchase a vehicle.
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Keywords: used car sales in Russia, automotive loans, recycling fee, Roman Titov, Avilon, purchasing power, interest rates, used passenger cars.