PwC predicts an 11.5% growth in Russian second-hand car market in 2017

PwC predicts an 11.5% growth in Russian second-hand car market in 2017

RNS – The Russian second-hand car market may grow by 11.5% year-on-year in 2017, to 5.8 million units, according to the calculations of Avito Avto, PwC and Autostat. The relevant information has resulted from a survey.

The market has risen by 6% in 2016 – to 5.2 million vehicles.

The market will have grown by 28.8% by 2020, in comparison with 2016 – reaching 6.7 million units.

The average annual growth rate of the market will reach 5%, as predicted by the company.

The forecast is based on the growth of the automobile park and its turnover level (the ratio of the sales of cars at a given age to the volume of the fleet, which corresponds to that age segment), as reported by PwC.

The Russian car park will grow by 9% by 2020 – to 45.4 million units, however, aging at the same time. As calculated by the company, the 15.5% ratio of vehicles under the age of 5 years old in the second-hand car market in 2017 will have fallen to 10.4% by 2020. The number of automobiles over the age of 10 years, on the other hand, will increase from 39.7% to 44.8%.

The turnover of the automobiles in the fleet will grow from 13% to 15% in 2020, reaching its peak.