New and used car prices in Russia surge to record levels in 2026 amid high loan rates and weak purchasing power. Learn the latest market trends now.
Russia’s automotive market is grappling with a wave of price increases never seen before. Both new and pre‑owned vehicles are climbing higher as interest rates stay elevated and consumers’ buying power weakens.
New‑Car Prices Reach New Peaks
According to Sergey Tselikov, director at market‑analysis firm Autostat, the average transaction price for a brand‑new passenger car in January 2026 was about 3.5 million rubles – roughly US$45,600. That figure is 2.1% lower than December 2025, but it still marks a 13% jump compared with January 2025.
Used‑Car Prices Also Climb
The used‑car segment is not immune. In January 2025, the average price of a second‑hand vehicle hit 1.34 million rubles (≈US$17,500), a 14% increase over the same month a year earlier. Compared with December 2024, the rise was modest – just 0.5%.
Why Buyers Are Holding Back
Demand for new cars is softening. Autostat’s recent survey revealed two main reasons driving the hesitation:
- High bank loan rates: 63% of respondents said expensive financing is the biggest barrier.
- Eroding purchasing power: 43% cited the broader economic slowdown as a key factor.
- Additionally, 25% of Russians are waiting for global automakers to re‑enter the market before making a purchase.
What the Future Holds
Tselikov projects that used‑car prices could keep rising throughout 2026, but at a more tempered pace – roughly a 10% annual increase. This suggests that, despite month‑to‑month fluctuations, vehicle prices are likely to stay elevated for the foreseeable future.
For buyers, the message is clear: high financing costs and a weakened ruble are reshaping the Russian auto market, making both new and pre‑owned cars more expensive than they have been in recent memory.