Experts expect an increase in car prices in Russia due to the shortage formed during the pandemic

Experts expect an increase in car prices in Russia due to the shortage formed during the pandemic

There is a shortage of the most popular models and complete sets of cars in the Russian automotive market. In addition, amid the abolition of discounts by manufacturers, there is still a high demand among domestic buyers. In this regard, experts believe that this state of affairs will certainly lead to higher prices.

Experts expect an increase in car prices in Russia due to the shortage formed during the pandemic

Image via: wikimedia.org
One of the key laws of the market says: demand creates supply. Only in the context of a pandemic there are certain problems with the supply. The goods that were supplied by manufacturers before the introduction of the lockdown are gradually ending, so now there are not so many cars available to customers that can be purchased immediately. In addition, cars received by dealers before the first wave of COVID-19 were sold at prices of the past year or early 2020. In the actual cost, sellers include not only the devaluation of the ruble, but also increased demand along with a deficit in warehouses. As a result, over the past three months, 38 car brands out of 48 presented in the country have noticeably increased in price on the Russian market.

Moreover, there is already an increase in the prices of used cars, which is also triggered by the shortage. Experts note, depending on the price category, the shortage of cars in the secondary market this year has already amounted to 5 to 10 percent. However, market participants believe that in the future the situation will be able to stabilize and a sharp rise in prices will be avoided. Meanwhile, economists believe that the rise in prices will be 5-10%, moreover, it can stretch for a year and even reach the budget segment.

Leave a Reply

Your email address will not be published. Required fields are marked *