Mileage in price: Demand for used cars is growing in Tatarstan

As RBC Tatarstan was told in the press service of the Avtoset.RF company, today sales growth is observed in the segment of used cars. According to company representatives, this trend is caused by deferred demand due to the covid-19 pandemic .

“The fact is that the forced holidays in April-May 2020 provoked a halt in car production. Further stabilization of the situation led to the fact that citizens began to massively invest their savings in new cars and real estate, provoking a shortage and a sharp jump in prices. The lack of marketable cars in the dealer’s warehouse redirected consumer demand for used cars, in turn, causing a sharp jump in prices in the secondary market,” the company noted.

Analysts at Avtoset.RF note that over the first 5 months of 2021, the cost of used cars, on average, increased by 3-5%, depending on the liquidity of the model. Sales increased by 5%.

“The greatest demand is recorded in the price range of 300-700 thousand rubles. Among the popular models, we note budget foreign cars Hyundai Solaris, Kia Rio, Volkswagen Polo, Renault Logan, as well as domestic cars under the age of 7 years.

The TransTechService company said that sales of used cars in April increased by an average of 5% compared to the previous month. “There is a slight excess of sales of used cars in relation to new cars. First of all, this is due to the shortage of new cars and their limited number in each delivery,” the company believes.