Second hand car sales fell by 24% in Russia in March

Second hand car sales fell by 24% in Russia in March – According to Autostat data, 386,500 second hand automobiles have been sold in Russia in March (-24.3%). Thereby, the number of second hand vehicles sold during the first quarter of the year has reached 1.1 million (-20%).

32.5% of this figure belongs to Lada. The share of the most popular foreign second hand brand Toyota is 10%, on the other hand. Nissan, Chevrolet, Ford, Hyundai, Volkswagen, Mitsubishi, Honda and Renault follow this brand.

Autostat analysts draw attention to the fact that the decline in the second hand vehicle market is getting momentum. The shrinkage rate in the market was 10% in January and over 20% in February. In March, it barely reached to a quarter of the year before.

As is known, the Russian new car market had shrunk by over 40% in March. The analysts remind that the prices of automobiles within the 2-4 years age group increase sharply in winter months. The demand shifts to older and cheaper vehicles, accordingly.