In a single month, the prices of new cars have risen

Photo source: Renault Groupe.

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Prices for new cars on the Russian market have risen by as much as 50-60% in the last month since the start of the war by Vladimir Putin, by recognizing the independence of the two self-proclaimed republics in eastern Ukraine and invading the country by Kremlin military forces. of. Western sanctions and the devaluation of the ruble against the euro and the US dollar have contributed decisively to the rise in the price of the car market, writes the publication Sobaka, which quotes the Moscow daily Vedomosti.

Although 83% of the cars sold on the Russian market are produced in the country, the Russian factories assemble a large part of the components from the export, which are purchased in foreign currency. As the ruble fell against the dollar and the euro by 24% and 21%, respectively, since February 21, acquisition costs have risen significantly.

According to the Russian state agency Avtostat, the weighted average price (taking into account the market share) of a new car for 2021 increased by 18% and reached 2 million rubles. By the end of the year, car sales could fall by a third compared to the previous year.

The situation is also complicated for car owners, who will have to take more money out of their pockets and for repairs and spare parts. According to Daniil Soloviov, international director of the car service network Fit Service, the depreciation of the ruble has led to an increase in the cost of spare parts in Russia by an average of 30%.