In September 2024, Russian experts predict a rise in prices for new cars. The main factors contributing to this increase are a possible increase in the recycling fee, inflation, exchange rate fluctuations, and a high key rate.
Anton Shaparin, Vice President of the National Automobile Union, points out that the recycling fee can significantly increase the price of cars, especially for Chinese-made models, where the increase can be up to 300 thousand rubles or 10–20% of the cost. The expert expects that, overall, prices for new cars in Russia will increase by about a third by next year.
According to the Ministry of Industry and Trade's draft, it is planned to increase the recycling fee on imported cars from October 1, 2024, which may lead to a price increase of up to 667 thousand rubles for cars with engines up to 2.0 liters by 2025. The government claims that such measures should not affect the cost of cars produced in the country, as the state compensates the costs to those who have localized production.
Igor Chikin, Executive Director of the Association "Russian Automobile Dealers," predicts a 10% price increase due to problems with interbank transfers between Russia and China, as well as a high key rate. Independent expert Alexey Tuzov also suggests a 10% price increase due to the recycling fee and other economic factors.
The price increase may range from 5 to 10%, depending on the model and type of import, as noted by the dealership company "Keyauto." They predict that the increase in price will mainly affect imported cars, and to a lesser extent, domestic ones.
Major dealerships have already begun to adjust price lists for cars. Summer discounts on new models, especially from Chinese brands such as Chery and Geely, have been canceled. Prices for parallel import cars, such as BMW X1 and X3, have also increased, while less popular models are seeing price reductions and additional discounts.
Read materials on the topic:
Russians warned of soaring prices for car sharing and car rentals
Car prices in Russia may rise after the increase in the recycling fee from October 1, 2024
