Russia: Used Car Prices Down 5.8%

23 August 2017 (13:12)

UrBC, Moscow, August 23, 2017. The average asking price of a used car came to 535,000 RUR on the Russian market this August, Avtostat reports. This is 5.8% less than in December 2016.

It is reported that used car prices kept rising since December 2014, when the average asking price stood at 430,000 RUR and thus increased by a whopping 32% two years later (up to 568,000 RUR). This year, the prices have been gradually going down.

Whereas the new car market expanded by 8.5% in the seven months of 2017, the used car market has been stagnating and only grew by 0.8% compared with the start of the year. Avtostat’s Director Sergey Tselikov believes the trend will hold till the end of the year, with a further decline in the asking price.

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