In May 2024, residents of the Russian Federation bought cars worth 366.1 billion rubles, writes Autostat. This amount is 73.5 percent higher than in the same month last year, but 15.1 percent lower than in April 2024. That is, the financial capacity of the Russian car market is falling for the second month in a row after the record result in March.
Russians began to buy fewer expensive cars: the share of “premium” cars has fallen by almost 30 percent since April, to 11.1 thousand cars. 83 billion rubles were spent on them (minus 36.2 percent) – this is 22.7 percent of all spending on new cars. The share of mass-produced cars increased from 69.9 to 77.3 percent. At the same time, they were sold less, and expenses decreased by six percent, to 283.1 billion rubles.
Chinese cars spent 238.2 billion (9.6 percent less than in April), Russian cars spent 59.7 billion (minus 3.8 percent). Spending on Korean, European, Japanese and American cars fell even more.
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The most popular on the Russian car market remain SUVs (crossovers and SUVs) and B-segment cars, although the former are losing customers. In May, 272.3 billion rubles were spent on crossovers, and 48.6 billion on B-class cars.
The reduction in the financial capacity of the market is explained by several factors. Firstly, sales continue to fall, and in May the long weekend contributed to this. Secondly, the weighted average price of a new car continues to decline: in May it dropped by 8.5 percent. In addition, changes in the market structure and a drop in demand for expensive cars and crossovers have an impact.
In May, Russians bought 127.2 thousand new cars – seven percent less than in April. At the same time, compared to May of the previous year, the market grew by 76.2 percent. Lada is still in the lead, followed by the Chinese Haval and Chery by a large margin.
Affordable crossovers that would be useful in Russia
