The rising cost of new cars is accompanied by a decline in sales and an increase in pent-up demand
New personal vehicle again the vehicle goes into the category of luxury that is difficult to buy, maintain and contain. The cost of the machines in the first half grew by 18% compared to the same period last year, and incomes have fallen. The latter factor complicates the servicing of loans, arrears which are growing faster than other types of lending. So buy a new personal transport, the Russians have become much less common. And if you acquire, the low-end small vehicles (up to 4.1 m). Despite all possible allowances and government-subsidized preferential loans.
In January–July this year, the average price of new cars in Russia reached the level of 1,356 million rubles, which is 18% higher than in the same period last year. These data were obtained by the analytical Agency “AUTOSTAT” according to the study results of sales 35 best-selling brands. The rise in personal transport is exacerbated by the decline in real incomes. According to the National Bureau of credit histories in the first half of 2016 in the segment of loans recorded the highest growth of arrears. Now its level reaches 9.7%, whereas at the beginning of the year was 8.3%.
This is in car loans due the state now have the opportunity to obtain loan under unprecedented 9.9 percent, told “Izvestia” the President of the Association “Russian automobile dealers” (ROAD) Vladimir Merenkov. He explained that this rate is provided by the authorized banks, which the state allocates subsidies for providing favorable credit conditions. Important for the industry measures of state support are also a program to update the fleet discount on the purchase of a new car is successful in putting the old car) and providing the preferential terms of leasing for physical persons.
In ROAD note that in General, this year automobile industry received the greatest support of the state. However, the rapid market recovery experts have not been forthcoming. So, at the end of the year total sales decline, according to forecast of “AUTOSTAT”, will amount to 13-14% in comparison with 2015. In absolute terms, the implementation will not exceed 1.3 million new cars.
The main reason for the decline is the growing gap between incomes and the cost of new machines. So, in two years, the cost of a new car increased by about 40%, said Vladimir Merenkov, noting that in the absence of accurate data this estimate is an approximation. In “AUTOSTAT” believe that the measures of state support of the industry, including preferential loans and recycling program, help to protect the market from deeper falling.
— Taking into account devaluation, the price of cars had increased in two times. This did not happen, because the Russian market is a tough competition where the manufacturers carefully monitor the actions of each other. So prices do not rise as much — after all, if one will increase by 15%, and competitor — 5%, the latter will attract more customers — explain the ROAD.
As for buyers now the main issue is that, without preference, sure ROAD. So now the basis of an effective strategy of car dealers desire to sell cars even at a loss, and yield to provide additional services — sale of spare parts and cars with mileage.
The Russian office of Nissan company said that with the rising price of cars has changed, and customer preferences. Based on the company’s statistics, the demand for cars With (European middle class) fell by a third and demand for the class increased from 33 to 44%. The company said that the demand for In-segment result including measures of state support of the industry, as well as a more rational approach to choosing a car.
— Many customers are not willing to spend to buy a car additional money, they tend to stay within the budget for many buyers remained at pre-crisis level, — have informed “news” in the Nissan.
This year the rising cost of new cars is quite uneven. According to the study of “AUTOSTAT”, for seven months of this year, the most expensive Land Rover vehicles, the average price of which increased by 44% due to the market appearance of more expensive trim levels.
— Followed by Audi, whose products on average became more expensive by 28%. From brands such as Subaru, Lexus, Mitsubishi and Mazda, the cost increase ranged from 22% to 27%, — according to “AUTOSTAT”.
In the range of 10-20% increased cost 15 brands, including brands such as Lada and UAZ.
