Sales growth of used cars in Russia slowed in 2024 to 6% year on year from 17% growth in 2023, data showed on Tuesday, indicating a shift towards purchases of new cars and highlighting the general recovery in Russia's car market.
Russian analytical agency Autostat said more than 6-million used cars were sold last year. Last week, Autostat reported sales of new passenger cars jumped by 48.4% to 1.571-million vehicles in 2024.
Russia's car market slumped in 2022 after Moscow's invasion of Ukraine, which led to the exodus of Western automakers from the country and the influx of Chinese carmakers, which have grabbed more than half the market's share.
The lack of new cars caused a jump in demand for used cars in 2023, reflecting deferred demand after the poor year of 2022.
Growth in Russian used car sales tapers off in 2024: Autostat
Image: Contributor/Getty Images
Sales growth of used cars in Russia slowed in 2024 to 6% year on year from 17% growth in 2023, data showed on Tuesday, indicating a shift towards purchases of new cars and highlighting the general recovery in Russia's car market.
Russian analytical agency Autostat said more than 6-million used cars were sold last year. Last week, Autostat reported sales of new passenger cars jumped by 48.4% to 1.571-million vehicles in 2024.
Russia's car market slumped in 2022 after Moscow's invasion of Ukraine, which led to the exodus of Western automakers from the country and the influx of Chinese carmakers, which have grabbed more than half the market's share.
The lack of new cars caused a jump in demand for used cars in 2023, reflecting deferred demand after the poor year of 2022.
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