Most Russians put off buying a car indefinitely

More than half of Russians do not plan to change their car in the current economic conditions, the press service of the specialized car portal Drome reported today based on the results of a May poll, in which more than 6,000 people participated.

“The majority of respondents (54%) answered that they have no plans to change cars. Only one in ten is thinking about buying a car this year,” the report says.

14% of motorists hope to update their car in 1-2 years. A little more than 10% will look for new options only after three years, 9% of motorists are going to change the car no sooner than after 5 years.

“Now the Russians are switching to a mobilization model of consumption. The prices for large purchases, which include a car, are unstable, and the incomes of the majority have decreased. Moreover, even well-known economists do not undertake to say what will happen to the Russian economy in a year. Under such conditions, update the car the majority of motorists will be solely for rational reasons: due to the technical condition or due to changed purposes of use, as well as strictly if funds are available,” said Igor Oleinikov, an analyst at the portal.

According to him, another “brake” in the acquisition of a car is a high interest rate on car loans.

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