In July 2024, the secondary car market in Russia demonstrated accelerated growth rates both month-on-month and year-on-year. According to AUTOSTAT, sales of used cars increased by 9.3% compared to June and by 6.7% compared to July 2023, amounting to 546.2 thousand units. This figure was the highest since the beginning of this year.
The growth rate of used car sales in July became a record for 2024. In annual terms, the secondary market resumed growth after a slight decrease in June, when a decrease of 0.5% was observed. July's dynamics became the highest since the beginning of the year, surpassing even the March results, when the increase to February was 26%.
Analysts attribute the market's activation to two key factors: price stability in the first half of the year and concerns about a possible future increase in car prices. These conditions may have stimulated consumers to buy used cars in the current period.
According to AUTOSTAT, July became a record month for used car sales in 2024.
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