«Opening Auto»: Russians spent 76 billion rubles for the purchase of new cars in April - twice less than in March

«Opeining Auto» (a block of auto business in the group of Opeining Bank)* and the analytical agency AUTOSTAT conducted a joint survey of the new passenger car market in Russia and determined its financial capacity** based on the results of April 2022. According to the results of the survey, in April, the residents of the Russian Federation spent 75.9 billion rubles for the purchase of cars, 2 times lower than a month before (in March - 153.2 billion rubles), and 4 times lower than in April of 2021 ( 290.6 billion rubles).

At the same time, in the second month of spring, there were sold 29.6 thousand cars, which is 46% lower than in March (54.6 thousand). Russians still spend the most money for the purchase of crossovers and SUVs, but their share in the financial capacity of the market fell to 62% in April (vs. 66% in March). The same applies to European automakers: they keep their leadership by cost, although their share has fallen from 45% to 33% per a month. The share of premium cars also noticeably decreased (from 36% to 26%).

The fall in car costs in April in compare with March occurred in all brands and segments, except for A-class cars and MPV. In April, the share of premium segment cars in the financial capacity of the market decreased significantly - immediately to 26% (against 36% in March) against the backdrop of the share increase of the mass segment from 64% to 74%.

Residents of Russia bought 2.4 thousand new premium cars, 68% lower than in March, and spent 19.6 billion rubles, which is 64% lower than a month before. Spending for cars of the mass segment, the sales volume of which was 27.2 thousand units (-42%), reached 56.3 billion rubles (-43%). As can be seen, a stronger decline in sales of premium cars also contributed to a sharp drop in their financial capacity.

* Created on the basis of the RGS Bank, which was merged with Opeining Bank on May 1st, 2022.

** Financial capacity - the amount of money that Russians spent in total for the purchase of new passenger cars during the reporting period. Calculated on the basis of weighted average prices of new passenger cars and their sales for the reporting month.