In monetary terms, the volume of the Russian automotive market increased by 28% in 2021. Hyundai and Kia are the top sellers, but premium brands and Chinese automakers have seen the largest revenue growth. Against the background of the rush of demand for new cars, the auto companies, obviously, have laid an overestimated margin in the cost of cars against past costs, experts are sure. According to the results of 10 months of 2021, Russians spent 2.784 trillion rubles on the purchase of new cars, which is 28% more than in the same period last year, according to the statistics provided by the Russian Automotive Market Research (NAPI) agency.
To understand the scale, approximately the same amount (about 3 trillion rubles) was spent by the state to support citizens and the economy during the coronavirus pandemic. Last September, at a meeting of the heads of the Shanghai Cooperation Organization, President Vladimir Putin said that this amount is comparable to more than 4.5% of the country's gross domestic product (GDP) in 2020.
The Korean brand Kia is the leader in terms of revenues in the Russian market. For 10 months of this year, he managed to sell cars worth 325.7 billion rubles, which is almost 24% more than a year earlier. Kia's sister brand Hyundai has even more significant growth - more than 35%, and the proceeds from the sale of cars are estimated at 279.3 billion rubles.
This brand is in the leading positions in terms of an increase in the weighted average price of a car - for the year for Hyundai it grew by almost 21%, to 1.94 million rubles - only Changan, Chery, Geely and Mercedes-Benz had stronger dynamics of the rise in price. / i
At the same time, sales of Korean brands did not grow so significantly: according to statistics from the Committee of Automobile Manufacturers of the Association of European Businesses in Russia, in quantitative terms, Kia sold 9.4% more cars over the same period than a year earlier. Hyundai - almost 12%.
Japanese Toyota closes the top three in terms of sales in monetary terms - Russians spent 275.5 billion rubles on cars of this brand in 10 months, which is 14% more than a year earlier.
The Japanese are followed by Mercedes-Benz with 266.1 billion rubles (+ 75%) - the German premium brand has grown both in sales (by 37%) and the weighted average price of a car (by almost 28%, to 8.2 million rubles) ).
"Mercedes-Benz simultaneously has a good growth in sales and the weighted average price - more, for example, than BMW - hence the greater growth in financial capacity," explained Tatyana Arabadzhi, general director of NAPI, in an interview with NAPI. "In terms of sales growth, Chinese brands are showing fantastic performance and have also significantly increased their financial capacity this year."
The Russian Lada, according to the dynamics of income growth, demonstrates average market indicators (plus 28%), Russians spent 229.4 billion rubles on cars of this brand in 10 months.
The companies whose sales of cars in units fell in 2021, in particular, Volkswagen, Mitsubishi and Nissan, are at the level of last year in terms of financial capacity.
UAZ is completely in the red - for 10 months, the Russians spent 12 billion rubles on SUVs and pickups of this brand against 12.4 billion rubles a year earlier.
Against the background of problems with the supply of auto components and interruptions in production that have engulfed the entire global auto industry, auto companies continue to continuously adjust prices - the same AvtoVAZ increased the cost of Lada models seven times a year, the last rise in price (by 8-10 thousand rubles) occurred at the end November. Other automakers also regularly rewrite price tags for their products.
The volume of the Russian automotive market in monetary terms will continue to increase - in addition to the shortage of cars, inflation contributes to this, as well as the desire of auto concerns to win back past losses, experts say.
“Given the shortage of cars, I think that many automakers were even able to partially pass on to the consumer the costs of past periods, which they could not have included in the price of cars earlier,
- says Vladimir Bespalov, an analyst at VTB Capital for the auto industry. “I believe that financially, automakers are doing very well now, maintaining high sales margins.”
An indirect indicator of this is the growth rate of the cost of cars, which are observed during 2021, the prices of new cars are growing faster than inflation, the expert clarifies. In the long term, the market will grow both in quantitative and monetary terms, but mainly due to inflation and the complication of the design of the machines themselves, Bespalov predicts. As supply increases, the scope for price increases will be limited.
In monetary terms, the Russian car market will continue to grow in the next year, even if the growth in the cost of cars slows down, automakers will be able to get their income from volumes, said Sergey Burgazliev, an independent consultant on the auto industry. “Given the increased demand and inadequate supply, carmakers are now looking to make the most of every car sold
- notes Burgazliev. "An increase in the production of cars is not expected at least in the next six months, while in Russia the excitement is fueled by the uncertainty of citizens in the future."
Against the background of the current situation on the market, cars turned out to be a good object for investment - a car bought a year ago, even with a used one, can now be sold for more than its original cost, the expert states.
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