The average price of a used car in Russia in January 2022 amounted to 1.05 million rubles, according to Avtostat. Thus, this figure for the first time in history exceeded the mark of 1 million rubles.
In January, prices for used passenger cars increased by an average of 8% compared to December 2021 and by 52% in annual terms. As the agency notes, prices for used cars have been rising since September 2020. In addition to inflation, the shortage of new cars at dealers, caused by a global shortage of semiconductors used to make microchips, amid supply chain disruption, also affects the rise in prices. The Ministry of Industry and Trade expects that the shortage of cars in Russia will continue in the first half of this year.
As analysts of the Auto Price portal calculated earlier, in the first half of January, 23 car brands immediately increased prices for their products in Russia, including market leaders – Russian Lada, as well as Korean Kia and Hyundai. Thus, on average, all Lada models added 3.3% in price, while Kia and Hyundai cars in 2022 went up in price by 1.6–5.5% and 1.8–5.4%, respectively, compared to December.
The Association of European Businesses predicts a slight growth in the car market in 2022 at the level of 3.3% to 1.72 million cars and light commercial vehicles. At the end of last year, this figure increased by 4.3% and amounted to 1.67 million cars.