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Demand for used cars has recovered, but the year will be difficult

Jul 27, 2020

After the April "quarantine" fall, the Russian used car market started to grow a little in May. And although there is no data on June re-sales yet, the experts of the analytical agency "Autostat" believe that the June figures will be close to the figures in June of 2019, or even slightly exceed them.

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Among the main reasons for such an active recovery, the executive director of the agency, Sergei Udalov, names the deferred demand and the operation of state support programs that stimulate the purchase of new cars and, accordingly, the replenishment of the used market. At the same time, the expert notes that in the secondary market, the premium segment, which accounts for 9.7% of the market share, feels better than the mass segment (the fall by the results of 5 months was 12.3% and 14.1%, respectively), and in the segment under the age of 5 years, the situation looks better than among older cars.

Among other trends identified by experts, the following can be noted: prices on the used car market have grown significantly, and "good cars" (up to 5 years old, not broken, not working in a taxi, etc.) have become significantly less for the past 2-3 months. Statistics say that for 5 months of 2020, 1.76 million used cars were registered, among which 216.7 thousand units were under the age of 5 years. This is lower by 9% than in the same period of the previous year.

Source: https://eng.autostat.ru/news/18779/

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