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Used car prices rise for the first time in nine months of 2024 — report

The average price peaked at 1.61 million rubles ($15,600) in late February but had been steadily declining, reaching 1.45 million rubles ($14,000) by mid-autumn

MOSCOW, December 13. /TASS/. The average price of a used car in Russia reached 1.47 million rubles ($14,200) in November 2024, marking a 1.4% increase compared to October, according to the Avtostat analytical agency.

"Based on Avtostat data, the average used car price in November 2024 was 1.47 million rubles, which represents a rise of 1.4% or 20,000 rubles ($200) compared to October," the agency reported. "This marks the first price increase for used cars in the past nine months," experts noted.

The average price peaked at 1.61 million rubles ($15,600) in late February but had been steadily declining, reaching 1.45 million rubles ($14,000) by mid-autumn.

Avtostat analysts attribute the recent uptick in prices to factors such as the higher recycling fees, a weakened ruble, and inflation, which are driving sellers to raise prices for vehicles listed for sale.

"Despite the November increase, used cars remain cheaper on an annual basis. The average price is down by 12%, or 200,000 rubles ($1,900), compared to November 2023," the agency added.