In 2011, Russians spent on new cars nearly $ 60 billion

The volume of the market for new cars in Russia last year reached nearly $ 60 billion, according to PricewaterhouseCoopers, the Russians began to buy more cars at higher prices.

As stated in the review of the market for new passenger cars in Russia, prepared by Stanley Root, leader of the practice in providing Automotive Industry, PwC in Russia, Russian buyers in 2011 purchased 2.5 million new cars worth $ 58.9 billion compared with the 2010 th year sales in the primary market rose by 40% in quantitative terms and by 70% - in cash.

The highest growth market to foreign cars in Russia. Over the past year in Russia was sold 70% more like cars than in 2010, and in terms of money market, “Russian foreign car” has grown almost doubled to 98%. Equally impressive dynamics Mr. Ruth connects with factors such as recycling programs and subsidizing loans, available credit, economic growth and reducing unemployment.

Largely due to the optimism buyers car production in the country increased by 45% compared to 2010 and exceeded 1.7 million units, reaching absolute historical maximum.

According to PwC, every tenth car in the past year was purchased with the assistance of a soft loan. Total in Russia in 2011, was issued more than 263 thousand favorable auto loan. According to Stanley Root, the share of cars sold on credit, 44%, to quantify it - about 1.1 million copies.

Regarding the future prospects of the Russian new car market expert PwC shows moderate skepticism: the base scenario forecast assumes its sales decline in 2012 to 8% - to 2.3 million copies.

23 January 2012

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