Russian car prices inflate by up to 15%

RUSSIA / FSU POLITICS - In Brief 23 Oct 2020 by Alex Teddy
On October 21 Kommersant published a survey showing that the fall in the RUB has caused car prices to rise between 3% and 15%. Imported cars went up most in price. BMWs, Audis, Volvos and Mercedeses all went up sharply. Lada prices are up 7% . 20% of all car sales are of Ladas.Carmakers do not want to raise prices. Sales have risen because people are buying now as they are sure prices will rise.The RUB has lost 25% against the USD since the start of 2020.Car sales are an indicator for economic health. It shows how much of a feel good factor there is. Car sales grew 3.4% Y o Y in September 2020.As most Russians could not go on vacation in the summer they had additional disposable income. Some of this was spent on automobiles.Although car sales are up recently the picture over the whole of 2020 thus far has been a 14% slump in sales.

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