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Experts explained the jump in demand for used cars in September

Oct 19, 2020

Used car sales are growing in Russia for the third month in a row, and the situation in the secondary market differs from the new car market, which shows more moderate dynamics. So, according to the analytical agency "AUTOSTAT", in September the market of used cars in Russia grew by 24.2% and reached almost 565 thousand units.

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According to Anton Demkin, Sales Director of “Avilon. Used Cars”, the secondary market is showing the growth only because there is a deferred demand and a deficit for new cars. The situation in the secondary market differs from the market of new cars by the fact that the secondary market does not depend directly on supplies to warehouses in the short term and it has more product opportunities.

In the context of the unstable ruble exchange rate, Russians wanted to keep their savings, so not everyone could afford to pay for a new car above the planned price, which explains the increase in the demand for used cars, Denis Migal, General Director of the FreshAuto dealership network, notes. In his opinion, the growth in demand for used cars will continue, but in general the situation on the market is not easy and the fact that people, despite this, sell their cars is primarily due to the financial aspect - it is rather a forced measure. “The trend of recent months has shown that there is a steady demand in all price segments. Of course, traditionally the economy segment is in the highest demand in compare with the middle and premium segment. Very soon, the market situation will stabilize, and premium cars will again be in less demand. But now all cars are in the same demand, there are two reasons for this: a lack of assortment and an unstable exchange rate,” - sums up Denis Migal.

Source: https://eng.autostat.ru/news/19154/

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