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.
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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