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Used car Industry Revenue Russia, Used Car Market Trends-Ken Research

Sale of Used Car by Type in Russia has observed as the major segment in used car market. In this segment sedan dominates the sale of Russia Used Car Market. Percentage sale of sedans in Russia has been accounted as ~% during the year 2017. People in Russia mostly prefer sedan for their personal use as well as for commercial purpose. For more information on the research report visit https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/russia-used-car-market/146656-100.html

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Used car Industry Revenue Russia, Used Car Market Trends-Ken Research

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  1. Russia Used Car Market Research Report-Ken Research

  2. Russia has been the largest producer of natural gas and second largest exporter of crude oil in the world. This makes Russia’s economy to be majorly dependent on revenues generated through export of crude oil and gas. Russia has examined economic depression during the year 2014-2015 due to sudden decline in crude oil prices from USD ~ per barrel to USD ~ per barrel. This has lead to significant decrease in value of currency, reduction in the real income and purchasing power of the people. Economic slowdown in Russia led to decrease in market size of used car from sale of ~ million units in the year 2012 to sale of ~ million units during the year 2017 at a negative CAGR of ~%during the period 2012-2017. Whereas, increase has been observed in revenue generated from sale of used cars due to increase in average ticket size of cars from RUB ~ thousand in 2012 to RUB ~thousand in 2017. Revenues generated from sale of used cars has increased from RUB ~ trillion in the year 2012 to RUB ~ trillion during the year 2017 at a CAGR of ~% during the period 2012-2017. Share of Domestic brand cars has increased to ~% during the year 2017 from ~% during the year 2015. Significant increase in domestic brand car sale has been observed majorly due to economic depression prevailing in the country and decline in purchasing power of the people. Online companies has accounted ~% share in the sale of used cars in Russia during the year 2017. Sale of Used Car by Type in Russia has observed as the major segment in used car market. In this segment sedan dominates the sale of Russia Used Car Market. Percentage sale of sedans in Russia has been accounted as ~% during the year 2017.

  3. People in Russia mostly prefer sedan for their personal use as well as for commercial purpose. People in Russia are mostly attracted towards sedans cars as they come into their budget and have high average car life. Crossovers and SUVs remains the second most preferable used cars in Russia. Percentage sale of crossovers has accounted for ~% during the year 2017. It is expected that the percentage sale of crossovers will increase in future. Demand for SUVs and Crossovers has been increasing rapidly in Russia. Hatchbacks accounted for third largest sold used cars in Russia. Hatchbacks are generally used for both personal and commercial purpose such as in Taxies and by travel agencies to rent them out later on daily basis. Percentage sale of Hatchbacks has accounted for ~% during the year 2017. In Russia, used cars are majorly sold through online platform which directly connects customer to customer. Sale of used cars through online channel eradicates middle men and ensures transaction to be completed at low cost as middle men commission gets eliminated. Significant growth has been observed in number of internet users in Russia during the period 213-2017. Number of internet users has reached up to ~ million in 2017 from ~ million in 2012at a CAGR of ~% during the period 2013-2017. Increase in number of internet users turns out to be a most important factor for increase in sale of used cars through online channel. People in Russia generally prefer to purchase used cars from online platform due to assurance of car quality as fit and certified cars are only listed through online companies.

  4. People in Russia has tendency to purchase products online at their convenience. Online channel offers large variety of used cars on a single click and allows person to compare different cars at the same time. On the other hand, dealers of used cars in Russia are not operating in entire country. Major outlets of dealers are situated in large regions such as Moscow, Moscow region, St. Petersburg and others. Russia used truck market has observed decline in sale of used trucks during the year 2016-2017. Sale of used trucks in Russia has declined from ~thousand units in the year 2016 to ~ thousand units during the year 2017. Top five companies which have captured the highest market share for sale of used trucks are KAMAZ, GAZ, Belorussian MAZ, Zil, and Swedish Volvo. KAMAZ trucks has accounted sale of ~ thousand units of the overall sale of used truck market during the year 2016.Sale of KAMAZ declined to ~ thousand units during the year 2017. Sale of GAZ trucks has reached to ~ thousand units of the overall sale of the used truck market in Russia during the year 2016. Growth in sale of GAZ trucks has been observed during the year 2017, this lead to increase in sale up to ~ thousand units. Top five best selling models of trucks under used truck market are - KAMAZ 65115, The Volvo FH, KAMAZ 55111, KAMAZ 5320 and GAZ 3309. In Russia, Finance Providers charge approximately ~% as down payment while sanctioning the loan amount and average rate of interest is charged around ~% to ~%. They also provide loan on zero percent down payment and they charge heavy mortgage in return from the customers whereas, under scheme freedom of choice loan interest rates approximately ~% at zero percent down payment.

  5. In Russia, VTB bank reported that average loan amount has increased approximately from RUB ~ thousand in the 1st quarter 2016 to RUB ~ thousand during the last quarter of 2016. Russia used car financing has some of the major constraints such as age of a car, high interest rate on loan, origin of car, manufacturing age of a car, car registration along with period of term loan is maximum ~ years in Russia. Used car loan finance has contributed a major share in the growth of used car market in Russia as easy availability of used car loan attracted major population to purchase used cars in Russia. Major companies which provide loan financing services in Russia for used cars are VTB24, Rusfinance Bank, Unicredit Bank, MKB, Sistemel Bank and many others. In Russia, there are ~ major dealers which provide used cars sale through their various outlets present in number of nearby region in Russia such as Moscow, Moscow Region, St. Petersburg, Krasnodar Region, Rostov Region and many others. Rolf Group remains the largest dealers in Russia, it has accounted ~% share in the overall sale of used cars market in the year 2017, whereas Trans Teh Services remains the second largest used car dealer in Russia with ~% share in the overall used car market sale during the year 2017. On the other hand, Major online companies of used car market in Russia are Auto.RU, Avito.RU and CarPrice.RU, Drom.RU, IRR.RU, Cars.RU, Am.RU, Bibika.RU and CarsGuru.Net. Among all major online companies Auto.RU has comprised maximum share of ~% in the sale of used cars in Russia during the year 2017. On the other hand, Avito.RU has second highest market share in sale of used cars with ~% during the same year. CarPrice

  6. RU and other online companies have accounted ~% and ~% share respectively in sale of used cars in 2017. Russia used car market size is expected to increase from sale of ~ million units in 2018E to sale of ~ million units in 2022E at a CAGR of ~% during the period 2018E-2022E. Russia used car market is expected to grow at a percentage of ~% in 2018E and it is expected that it will increase by ~% during the year 2022E. Average ticket size of used cars is expected to increase in future due to depression in economy and poor currency exchange rate which lead to increase in the price of new cars. This would automatically results to a growth in average ticket size of used cars as well. It has been expected that sale of domestic brand used cars to grow at a CAGR of ~% during the period 2018E-2022E. It has been expected that sale of domestic used cars in Russia will reach up to ~ million units during the year 2022E from ~ million units during the year 2017.Domestic brand cars will hold ~% in overall sale of Russia used car market during the year 2022E. Whereas, Foreign brand cars sale has expected to reach up to ~ million units during the year 2022E from ~ million units during the year 2017 at a CAGR of ~% during the period 2018E-2022E. Sale of used cars through dealers is expected to reach up to ~% during the year 2022E. In future, shift in sale of used cars by type has been expected such as Crossovers and SUVs sale is expected to reach up to ~ million units during the year 2022E from ~ million units during the year 2017. Sale of crossovers and SUVs is expected to increase at a CAGR of ~% during the period 2018E-2022E. Crossovers and SUVs will account ~% share in overall sale of used cars in Russia during the year 2022E.

  7. Crossovers and SUVs sale will dominate used car market of Russia in future. In future, it has been expected that the sale of sedans remains the highest in Russia’s used car market. Sale has been expected to reach up to ~ million units during the year 2022E from ~ million units in the year 2017. Growth in sale of sedans has been expected at a CAGR of ~% during the period 2018E-2022E. Percentage share of sedans is expected to be ~% during the year 2022E. In Russia, used car market sale of hatchback is expected to grow at a CAGR of ~% during the period 2018E-2022E. In future, sale of hatchback has been expected to increase up to ~ million units during the year 2022E from ~ million units during the year 2017. Percentage share of hatchback cars in used car market of Russia during the year 2022E has been accounted to be ~%. Sale of other type cars such as Micro vans and MPVs is expected to decline in future as they have negative growth at a CAGR of ~% during the period 2018E-2022E. In future, it is expected that sale of used cars having age of more than 10 years will reach up to ~ million units in the year 2022E at a CAGR of ~% during the period 2018E-2022E. Cars having age more than 10 years will dominate the used car market in future. It is expected that out of overall used car market, ~% used cars sold in future during the year 2022E will have age more than 10 years. Sale of used cars having age under the bracket (5-10 years) is expected to reach up to ~ million units during the year 2022E at a CAGR of ~% during the period 2018E-2022E. Sale of used cars under age bracket (5-10years) is expected to account ~% share of the overall used car market in future during the year 2022E.

  8. For more information on the research report, refer to below link: https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/russia-used-car-market/146656-100.html Related Reports by Ken Research:https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/indonesia-used-car-report/79410-100.html https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/india-used-car-2015-edition/654-100.html Contact Us: Ken ResearchAnkur Gupta, Head Marketing & CommunicationsSales@kenresearch.com+91-9015378249

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