GeneralBusiness News

Experts of Otkritie Avto (auto business unit in Otkritie Bank, part of VTB Group) analyzed the sales results of October and 10 months of 2023 in the used passenger car market. For the second month in a row, the number of transactions continued to fall: 579.2 thousand re-registrations were recorded. This is 3% less than in September and 11% less than in record August. There was not a single one in the top 20 popular brands that would not somehow reduce sales. In total, the total sales volume of used passenger cars in the current year amounted to 5.58 million "pieces" (+26%), and by the end of the year may amount to about 6.8-6.9 million cars.

Starting from March and up to the end of July of this year, the expected "high season" continued in the used car segment. An average of 580-600 thousand transactions passed through classifieds every month. The money of those customers who used to buy new cars in car dealerships continued to turn around more actively here. In August, despite the holiday season, against the background of news about the upcoming increase in the recycling fee and new customs obstacles from Japan, the market completely soared to 650 thousand transactions. After this record, we continue to see the market fall. The total volume of secondary retail in October amounted to 579.2 thousand cars. This is 3% less than in September, and 11% less than in record August.

Customers were most reluctant to part with Lexus and BMW cars in October, for which the number of transactions decreased by 9-10%. At the same time, cheap Chevrolet and Lada cars continued to be resold at almost the same high summer pace.

One way or another, the leaders of the used car market have remained the same. Lada retained the first place in October by more than a two-fold margin from the nearest pursuer (143.3 thousand transactions). But there have been changes in the model profile of this brand. Lada Granta sellers began to raise prices for their goods more aggressively than owners of older "sevens" and VAZ-2114. In addition, the market was generously filled with "Grants" recently released from the factory. This led to the fact that in the model standings in the secondary segment, this car dropped to the third line. The leader of our authority in October remains VAZ-2107 (13,062 transactions). This is +3% or 364 more re-registrations than in September.

Toyota (60,055 deals, — 4.2%) and Kia (32,625 deals, — 4.8%) remained on the second and third steps of the popularity pedestal among brands. There are still a lot of Japanese and Korean cars of these brands on the market. It is they who, despite the termination of official deliveries, continue to enter the top 10 popular among new cars. Therefore, Toyota and Kia will certainly retain their places in the secondary market rating not only in the current year, but also in 2024. In general, the unshakable top-20 brands in October showed the greatest negative dynamics of used Lexus and BMW — by 9-10% compared to September. In turn, the sales volumes of foreign cars that play in the most budget segments (Chevrolet and Daewoo) practically do not change.

It can be added that unlike the new car market, where crossovers have long ruled the ball, sedans are most in demand in the secondary segment. Simply because the costs of their acquisition and maintenance remain noticeably less. Kia Rio retains the leadership among foreign cars here (11,597 vehicles, — 2.6%). This model remains highly liquid, the terms of its sale in most regions do not exceed 8-10 days. Almost the same can be said about two other models of the same segment: Ford Focus (11,388 a/m, -3.5%) and Hyundai Solaris (10,986 a/m, -4.7%). Toyota Corolla (10,035 a/m, -1%) and Volkswagen Polo (8,995 a/m, +3.2%) traditionally also enter the top five in popularity of sedans. And in a dozen sedans in October, you can find Toyota Camry (8,089 vehicles), Renault Logan (7,332), Volkswagen Passat (4,694), Mitsubishi Lancer (4,611) and Daewoo Nexia (4,268).

In general, the market for the entire current year, the top twenty popular brands remain unchanged in composition. The Chinese brand closest to the "top" is Chery. He is only in 27th place in the overall rating both in October (3,775 cars) and in 10 months of 2023 (34,722), that is, his position has not changed much so far. Most of the deals among the "Chinese" occurred in October with the Chery Tiggo T11 model (819 cars), which was produced from 2005 to 2016. You can buy them for an average of 600-700 thousand rubles. It is quite difficult for T11 sellers to become a customer of any new Chinese model, since now they are waiting for a three-fourfold surcharge. The total share of "Chinese" in the market with mileage is still small and relatively stable — only 2.36% at the end of the second month of autumn. Russian and Japanese brands still retain more than half of the market - 28% and 26%, respectively. This is followed by German, Korean and American brands (14%, 13% and 7%, respectively). The results of the 10 months of 2023 differ only in the fact that Russian and Japanese brands have changed market shares: Japanese cars have been sold most often in the mileage retail since the beginning of the year.

Source: https://www.vedomosti.ru/press_releases/2023/11/16/otkritie-avto-po-itogam-goda-rinok-legkovih-avto-s-probegom-mozhet-previsit-68-69-mln-shtuk?utm_campaign=newspaper_17_11_2023&utm_medium=email&utm_source=vedomosti