Russia's used passenger car market dips 0.2% YoY to 2.75 mln vehicles sold in H1 2024

MOSCOW. July 16 (Interfax) - Russia's used passenger car market dipped 0.2% year-on-year to nearly 2.75 million vehicles sold in H1 2024, and the market declined slightly year-on-year in June as well, the Autostat analytical agency said.

Only Lada and Kia demonstrated positive dynamics in the first half of the year among the country's ten most popular car brands on the market, with resales rising 14.9% and 0.2%, respectively. Only seven models had positive dynamics, with the VAZ "Seven" model surging 36.1% in growth to place first.

Sales of used passenger cars domestically declined 0.5% year-on-year and 2.6% month-on-month to 499,600 vehicles in June 2024.

Lada remained the leader within the brand structure on the used car market at 122,800 vehicles sold last month; Japan's Toyota placed second at 51,500 vehicles sold in the period; followed by South Korea's Kia at 29,100 vehicles sold and Hyundai at 27,700 vehicles sold, respectively; with Japan's Nissan at 23,800 vehicles sold rounding out the top five brands purchased domestically in June.

Autostat data indicate that Germany's Volkswagen was the only brand to demonstrate month-on-month growth in June, while Lada demonstrated the largest month-on-month decline, down 5.8%, though sales of Lada did increase 15.7% year-on-year in June. Kia, up 1.5% year-on-year, and Renault, up 0.3% year-on-year, respectively, also demonstrated positive dynamics. The remaining brands all declined, with Toyota dropping 14.7% year-on-year to lead the pack.