Russians shift to used cars as prices on new models soar ...News

Sales of second-hand automobiles accounted for almost 75% last year, recent data shows Spending on new cars in Russia more than halved last year due to the impact of Western sanctions and to surging prices, Reuters reported on Friday, citing analytical agency Autostat. The latest figures show that Russians spent 1.5 trillion rubles ($20.4 billion) or 52% less on new cars last year, while the number of new cars sold dropped by 58.8% as prices soared sharply, disrupting sales. Automobile production also slumped to its lowest since the early 1990s, the outlet said, as Western car makers halted production and sold fac

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Last updated : 18 February 2023 clock 01:08 PM

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Russians shift to used cars as prices on new models soar ...News

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