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Secondhand car market has grown for the first time since December 2014

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Autostat. – February 2016 has become the first successful month for the Russian secondhand car market, since December 2014. The market volume has reached 370,000 vehicles, following a 10.9% year-on-year increase. According to Autostat data, the secondhand car market had been on the decline for the last 14 months, since December 2014 (+19%).

Despite selling more than new vehicles all year round in 2015, the dynamics of the secondhand market remained negative. The year-on-year shrinkage rates according to months in 2015 are as follows: January (-9.5%), February (-22.5%), March (-24.3%), April (-29.8%), May (-24.1%), June (-23.4%), July (-18.7%), August (-15.9%), September (-8.7%), October (-10.6%), November (-16.4%) and December (-26.6%). 308,800 second-hand vehicles have been sold in January 2016 (-6.8% year-on-year decline).

“It’s possible to say that the low-base effect has played a role in the increase. In comparison with the 380,000 vehicles sold in March 2015, the current figures give us hope for the continuation of the market recovery” comment the Autostat analysts.
www.rusautonews.com

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