Car sales in the Nizhny Novgorod region have decreased by 20% over the past six months
In the automotive market of Nizhny Novgorod, Russia, new car prices are experiencing shifts influenced by broader national and international dynamics. The withdrawal of major foreign car manufacturers, such as Volkswagen, and adjustments in local production capacities are key factors shaping these trends.
The average price of new cars in the region stands at 2.66 million rubles, marking a 6.7% decrease over the month. This downward trend is evident in several popular models, including the Jaecoo J8, which has decreased by 2.9% to reach 4.8 million rubles, and the Haval M6, which has dropped by 5.2% to 2.2 million rubles.
However, not all models have followed this decreasing trend. The Chery Tiggo 7 Pro Max and Jaecoo J7 have seen slight price increases, with their prices rising by 1.2%. Specific details about the price increases for other models were not provided.
The exit of foreign companies and the shutdown of local assembly plants have contributed to increased prices for foreign brands such as Volkswagen, Mercedes-Benz, BMW, and Mazda. While some supply continues unofficially, these brands are experiencing upward pressure due to reduced supply and increased costs in alternative sourcing.
Brands not officially sold in Russia have seen an 11% increase in their average price since the beginning of the year, reaching 9.4 million rubles in June. This rise is due to the halted imports of cars and spare parts resulting from international sanctions and companies pulling out.
As the industry adapts to these changes, Russian automotive manufacturing may focus more on domestic or alternative supply chains. The exact influence on prices will depend on manufacturers' ability to produce or import alternative models and parts.
For precise current prices by brand and model in Nizhny Novgorod, consulting local dealerships or Russian automotive price aggregators is recommended. These resources provide the most accurate and up-to-date information on the region's automotive market.
The price fluctuations in the Nizhny Novgorod automotive market also extend to the finance sector, as changes in new car prices impact loan and leasing agreements. For instance, the decrease in the average new car price has the potential to lower monthly payments for consumers.
Moreover, the exit of major foreign car manufacturers has led to changes in the region's lifestyle, as the increased prices for foreign brands such as Volkswagen, Mercedes-Benz, BMW, and Mazda may deter some consumers from purchasing these luxury cars. This shift could foster a rise in popularity for domestic or alternative car brands within the local market.
