By 2024, neither a reduction in the price of new cars nor a stabilization of prices on the Russian car market is expected, according to Viktor Pushkarev, deputy director of the Autostat analysis department, according to the agency’s press service on 24 December.
According to him, prices will surely increase, but their pace will be determined by inflation and the measures with which the State will influence the market. He added that manufacturers are unlikely to control dealer prices in an effort to maximize profits.
“For an approximate assessment of price dynamics, the dependence of the weighted average price of a car on the official annual inflation rate can be used. Thus, for example, in 2022 inflation was 12% and price growth was 29%; In 2023, these figures are projected at 7.5% and 21%, respectively.”the expert noted.
According to their estimates, if the minimum increase in inflation in the country’s budget for 2024 is set at 4.5%, an increase in car prices for consumers of 10-12% can be expected.
Let us remember that during the past year Lada cars have increased in price by an average of 39% across the brand. The most popular model, Lada Granta, has increased in price by 17%.
Source: Rossa Primavera
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