AUTOSTAT forecast: the rise in prices for cars does not reduce the demand for them

The demand for new cars in Russia remains. In September, according to the agency "AUTOSTAT", Russians bought about 135 thousand cars, which is higher by 2% than in August and higher by 8% than in September of the previous year. Agency experts predict the continued high demand for new cars, at least until the end of this year. During the preparation of the report “Forecast of the Russian market of new passenger cars for 2020 (monthly monitoring)”, they identified three main reasons for the situation.

In the first decade of September, the price of Brent crude oil "fell" below $ 40 per a barrel, and, almost simultaneously, a sharp rise in exchange rates began. By the end of the month, the maximum values of currencies set by the Central Bank of Russia reached the record historical values: 79.7 rubles per a dollar and 93 rubles per a euro. “Russian car buyers are well aware that the currency will not “roll back” to the previous levels, but the new car prices will “win back” it already the next year,” said Viktor Pushkarev, deputy head of the AUTOSTAT analytical department. “In addition, additional “heating” of demand ensures a shortage of the most demanded models and modifications of cars in dealer warehouses." The third reason, experts noted, is the high degree of uncertainty associated with the expectation of a second wave of the pandemic.