Otkrytie Auto: Russians spent more than 480 billion rubles for used cars in March

Experts from Otkritie Auto (auto business unit of Otkritie Bank) and AUTOSTAT agency conducted a joint survey of Russian used car market and determined its financial capacity* in March 2023. According to the results of the survey, in the first month of spring, the inhabitants of our country spent 480.8 billion rubles for used cars, which is 26% higher than in February (382.3 billion rubles). At the same time, 497.6 thousand used cars were purchased in March, which is also 26% higher than a month earlier (394.3 thousand units). The share of younger cars in the financial capacity of the secondary market is decreasing. Thus, 306.6 billion rubles were spent for cars under 10 years old in March, which is 64% of the total amount of money. If we compare this figure with February, then a month ago it was 65%. Of this amount, 154.9 billion rubles were spent for cars under the age of 5 years, and 151.7 billion rubles - to cars of 5-9 year category.

As for cars aged 10 years and older, Russians spent 174.2 billion rubles for them in March, i.е. 36% of the total amount. Meanwhile, a month earlier, this category accounted for 35%. The spending for used Chinese brand cars grew most of all. In March of this year, Russians purchased 9.3 thousand used Chinese cars in the amount of 8.3 billion rubles. If in pieces the "Chinese" added 26% to February, then in money terms they show the best dynamics of all participants in the secondary market (+37%). Despite this, their share in both cases remains the lowest - 1.9% and 1.7%, respectively. Among other brands by country of origin, the most noticeable cost increase in the "secondary" market belonged to "Americans" (+28%). Then Korean (+27%), Russian (+27%), Japanese (+26%) and European (+24%) brands followed by this indicator. Most of money is still spent for used cars of European brands (in March - 181.6 billion rubles), which are slightly inferior to the "Japanese" (161.7 billion rubles).

Behind them, with a huge lag, there are used cars of Korean and Russian brands (66.9 billion and 34.7 billion rubles, respectively). Americans finish the TOP-5 with 27.1 billion rubles. In terms of market volume, a completely different alignment is observed. At the beginning of spring, second-hand "Japanese" cars were bought the most - 146.2 thousand units (their share was 29.4%). Used cars of European brands are the second ones (118.8 thousand units; share - 23.9%), domestic cars are the third ones - (116.9 thousand units; 23.5%). And only then "Koreans" and "Americans" follow (64.4 thousand and 39.8 thousand units; with a market share of 13% and 8%, respectively).