New car prices in Russia have gone up by 66% within 4 years

According to the survey on price dynamics and exchange rates between September 2014 – November 2018, the new car prices in Russia have gone up by 66% since the start of the crisis. 

As can be seen below, the rise in car prices during the last four years has practically offset the deterioration of the ruble against the world currencies. 

The prices increased most rapidly from the end of 2014 to the beginning of 2015, when the deterioration of the ruble was at its sharpest rate. Very tangible price increases occurred in the first half of both 2016 and 2017. The price increase in 2018 has also been sufficiently noticeable up to now. 

In the meantime, partial stabilisations have been observed in the currency and in a number of other indicators throughout the entirety of the aforementioned period. There was even a slight decrease in car prices in Russia in some months, for example, in the summers of 2015 and 2016. However, the price fall didn’t last long in either of the cases, returning to the main rising trend over the duration of the year. 

Source: RusAutoNews.Com