The list of most popular cheap cars in Russia had been revealed. The least expensive car that Russians love to buy is priced at just over USD 6 thousand. You may be surprised to find out how affordable it is to buy a brand new vehicle in the Russian Federation, but April values may seem low because of the exchange rate, as ruble plummeted in March 2020.
Cheapest popular cars in Russia in 2020
The home-made Lada Granta became the cheapest model sold in Russia, as per results of the rating revealed in May 2020. The price starts from 460,900 rubles (USD 6,224).
Prices on Japanese sedan Datsun on-DO start from 511,000 RUB (USD 6,900). It is very similar to Lada Granta, experts point out.
Another Lada, Largus, scored the third position in the rating, prices at 622,000 RUB.
Two Renault’s models concluded the top-5 cheapest cars listing: sedan Logan and hatchback Sandero. Both models cost about the same: 625,000 RUB (USD 8,440) and onwards, depending on extras.
Why do cars cost so little in Russia?
These were the prices that dealers charged in April 2020.
US dollar went up in March 2020, following the collapse of OPEC agreement on 6 March and the following flooding of the market with the cheap oil by Saudi Arabia, Kuwait, and other participants from the Middle East. Russian ruble dropped to 81 for 1 US dollar on 18 March from 64 on 18 February. On 5 May 1 US dollar was worth 74 Russian rubles.
Such exchange rate fluctuations affect prices even for locally assembled vehicles, as the Russian economy is highly dependent on sales of oil and gas. Local experts point out that the exchange rate may be kept reasonably low artificially by Russia’s Central Bank.
Adjustments in values of motor vehicles may follow once the quarantine restrictions are removed and sellers aren’t forced to trade at a loss to maintain the cash flow.
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