Manturov named the reason why cars in Russia are not getting cheaper

According to the Deputy Prime Minister of Russia, inflation does not allow prices for new cars to be reduced, but “they can be more stable.” “Given the presence of inflation, we do not expect a downward trend in prices,” he said in a conversation with RIA Novosti. State support, in turn, is a damper for automakers, “which prevents car prices from rising.”

According to Autostat, currently the average price of a new car in Russia exceeds three million rubles, and in the next six months it could reach 3.4 million – an increase in price of approximately 10 percent. Under a more optimistic scenario, growth will occur over a longer period—over the next year. The forecast does not provide for a price reduction.

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Exactly a year ago, at the end of 2023, Manturov listed the conditions under which new cars could become cheaper: a reduction in the key rate and logistics costs. However, the rate has increased and is now 21 percent, which is a record. Moreover, the market is pricing in a new increase against the backdrop of ruble devaluation, unfavorable data on inflation and the labor market, as well as signals from the Central Bank itself.

As for logistics costs, they are also not decreasing, but are increasing due to the fall of the ruble against major currencies – this began in August, and in November it accelerated. Recently, the rate updated its maximum since March 2022, reaching 109.6 rubles per dollar.

In other words, there are really no prerequisites for lower car prices.

We are waiting in Russia: Chinese news