Russia Used Car Market Introduction and Overview
According to SPER Market Research, the Russia Used Car Market is estimated to reach USD 86.55 billion by 2033 with a CAGR of 7.29%.
The report includes an in-depth analysis of the Russia Used Car Market, including market size and trends, product mix, distribution channels, and supplier analysis. A used car is a pre-owned car that can be sold again. Used automobiles are sold through a variety of venues, including private party sales, franchised and independent auto dealers, rental car agencies, auction houses, and leasing offices. Because personal cars are more expensive to buy and maintain, millennials have a lower rate of car ownership. Furthermore, millennials prefer to drive older automobiles since they want to save money on their transportation. Additionally, this opens up the market to various expenditures made by industry players to set up their dealership network.
- March 2022, Inchcape declared that company would withdraw from the Russian market due to the ongoing situation in Ukraine. The company declared that in view of the current circumstances, it has determined that the Group's ownership of its economic interests in Russia is no longer viable.
- Russia's biggest auto dealer, Rolf, was acquired by competitor KlyuchAvto in December 2021 for an unknown sum. The acquisition will be financed by Alfa Bank, according to the announcement. Unidentified sources estimate the deal's value between $400 and $500 million, which is at least three times less what Petrov had originally anticipated to make from the company's sale.
Market Opportunities and Challenges
Opportunities: The demand for personal vehicles is expected to rise due to customers' increased preference for personal mobility. Industry participants have been encouraged to offer used cars at a fair price by providing flexible payment options through internet platforms. Nationwide auto dealers' flexible financing choices could help to boost used car sales even more. Additionally, in response to Russia's notable rate of internet penetration, used car companies are implementing a variety of business models and concentrating on enhancing the online marketplace's visibility to give customers greater opportunities to thoroughly investigate products before making a purchase. It is anticipated that these advancements would present profitable prospects for industry participants.
Challenges: The growth of the used car market is hampered by unorganized competitors. Moreover, used automobile warranties of any type are nonexistent among the unorganized players. Furthermore, some sellers cheat customers by painting and polishing cars that have been in accidents in order to hide the damage and raise the car's worth. This makes prospective buyers wary of buying used vehicles. Thus, the growing percentage of fraudulent transactions and the greater market share possessed by unorganized dealers provide a risk to the growth of the used automobile industry.
Market Competitive Landscape
The Russia Used Car Market is moderately consolidated due to the presence of multiple large and regional competitors in the market. Genser Auto, Inchcape, Drom, Fresh Auto, ROLF, and others are among the market's leading companies. The players are currently working on increasing their share of the rising used automobile industry in the country through a variety of expansion strategies.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Car Type, By Propulsion, By Vendor Type
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| Regions covered | Eastern Region, Western Region, Southern Region, Northern Region
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| Companies Covered | Drome, Favorit Motors, FRESH AUTO INGERSOLL, Gesner Auto, Green Giant (B&G Foods), Inchcape plc., JSC AVTOVAZ, ROLF, TrueCar Inc., Others.
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COVID-19 Impact on Russia Used Car Market
As the nation implemented lockdowns and travel restrictions in 2020 to stop the virus's spread, the Covid-19 pandemic initially caused a slowdown in demand. But by2021, the limits started to loosen, and during the course of the projection period, demand for secondhand cars is anticipated to increase.
Key Target Audience:
- Budget-Conscious Consumers
- College Students
- Families on a Budget
- First-Time Car Buyers
- Small Business Owners
- Temporary Residents or Expats
Our in-depth analysis of the Russia Used Car Market includes the following segments:
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By Car Type: |
Hatchback
Sedan
SUV
|
|
By Propulsion: |
Internal Combustion Engine
Electric
|
|
By Vendor Type: |
Organized
Unorganized
|
Key Topics Covered in the Report:
- Russia Used Car Market Size (FY’2024-FY’2033)
- Overview of Russia Used Car Market
- Segmentation of Russia Used Car Market By Car Type (Hatchback, Sedan, SUV)
- Segmentation of Russia Used Car Market By Propulsion (Internal Combustion Engine, Electric)
- Segmentation of Russia Used Car Market By Vendor Type (Organized, Unorganized)
- Expansion Analysis of Russia Used Car Market
- Problems and Obstacles in Russia Used Car Market
- Competitive Landscape in the Russia Used Car Market
- Impact of COVID-19 and Demonetization on Russia Used Car Market
- Details on Current Investment in Russia Used Car Market
- Competitive Analysis of Russia Used Car Market
- Prominent Players in the Russia Used Car Market
- SWOT Analysis of Russia Used Car Market
- Russia Used Car Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Russia Used Car Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Russia Used Car Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Russia Used Car Market
7. Russia Used Car Market, By Car Type (USD Million)
7.1. Russia Used Car Market Value Share and Forecast, By Car Type, 2024-2033
7.2. Hatchback
7.3. Sedan
7.4. SUV
8. Russia Used Car Market, By Propulsion (USD Million)
8.1. Russia Used Car Market Value Share and Forecast, By Propulsion, 2024-2033
8.2. Internal Combustion Engine
8.3. Electric
9. Russia Used Car Market, By Vendor Type (USD Million)
9.1. Russia Used Car Market Value Share and Forecast, By Vendor Type, 2024-2033
9.2. Organized
9.3. Unorganized
10. Russia Used Car Market Forecast, 2020-2033 (USD Million)
10.1. Russia Used Car Market Size and Market Share
11. Russia Used Car Market, By Car Type, 2020-2033 (USD Million)
11.1. Russia Used Car Market Size and Market Share By Car Type (2020-2026)
11.2. Russia Used Car Market Size and Market Share By Car Type (2027-2033)
12. Russia Used Car Market, By Propulsion, 2020-2033 (USD Million)
12.1. Russia Used Car Market Size and Market Share By Propulsion (2020-2026)
12.2. Russia Used Car Market Size and Market Share By Propulsion (2027-2033)
13. Russia Used Car Market, By Vendor Type, 2020-2033 (USD Million)
13.1. Russia Used Car Market Size and Market Share By Vendor Type (2020-2026)
13.2. Russia Used Car Market Size and Market Share By Vendor Type (2027-2033)
14. Russia Used Car Market, By Region, 2020-2033 (USD Million)
14.1. Russia Used Car Market Size and Market Share By Region (2020-2026)
14.2. Russia Used Car Market Size and Market Share By Region (2027-2033)
14.3. Eastern Region
14.4. Northern Region
14.5. Western Region
14.6. Southern Region
15. Company Profile
15.1. Drome
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Favorit Motors
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. FRESH AUTO INGERSOLL
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. Gesner Auto
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Green Giant (B&G Foods)
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Inchcape plc.
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. JSC AVTOVAZ
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. ROLF
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. TrueCar Inc.
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
