03.07.2020 / LCV sales are falling in quantitative and money terms

In January-May 2020 the new LCV^[1] market revenue amounted to 59 billion rubles, which was a 9.6% decline on January-May 2019.

Negative dynamics of the market revenue was caused by the decrease in new LCV sales by 14.9%.

New LCV weighted average prices and market revenue,
January-May 2020/2019

Source: Russian Automotive Market Research

In January-May 2020, used LCV sales fell by 17.2% on January-May 2019. Therefore, the used LCV market revenue decreased by 16.8% and amounted to 88 billion rubles.

Used LCV weighted average prices and market revenue,
January-May 2020/2019

Source: Russian Automotive Market Research

New LCV market

The largest new LCV market revenue for the reporting period belonged to Moscow - 9.5 billion rubles. The Moscow region and Saint Petersburg, in which 5.4 billion rubles and 3.6 billion rubles, respectively, were spent on the new LCV, also entered the top three.

Dynamics of the market revenue remained positive in five TOP-15 regional markets.

New LCV weighted average prices and market revenue, TOP-15 regions,
January-May 2020/2019

Source: Russian Automotive Market Research

The leader by financial results traditionally became GAZ. In January-May 2020, new LCV of this brand on 23.1 billion rubles were sold. It was followed by FORD, vehicle sales of which in money terms amounted to 9.3 billion rubles. VOLKSWAGEN with a financial result of 6.5 billion rubles rounded out the leading three.

FORD, TOYOTA, MITSUBISHI and ISUZU were among TOP-15 brands to show the growth in the market revenue. This dynamics of MITSUBISHI brand was due to not only price increase, but growing demand for MITSUBISHI vehicles for the reporting period by 26%. FORD and TOYOTA increased financial results due to rising prices. The growth in ISUZU financial results was due to the increase in demand for its LCV by 4%.

It should be noted that the reduction in weighted average prices for ISUZU and HYUNDAI light commercial vehicles is caused by the change in their sales structure: increase in the shares of the cheapest models against the background of the decrease in the shares of the most expensive ones.

New LCV weighted average prices and market revenue, TOP-15 brands,
January-May 2020/2019

Source: Russian Automotive Market Research

Used LCV market

The Moscow region became the leader among Russian regions by the used LCV market revenue. Following results of five months of 2020, used LCV on 7.2 billion rubles were sold in the region. The market revenue of Moscow and Saint Petersburg, which also entered the top three, amounted to 7.1 billion rubles and 4.8 billion rubles, respectively.

All TOP-15 regional markets showed negative dynamics of the market revenue.

Used LCV weighted average prices and market revenue, TOP-15 regions,
January-May 2020/2019

Source: Russian Automotive Market Research

Following results of five months of 2020, the best financial result belongs to GAZ. 24.5 billion rubles were spent on used LCV of this brand. It is followed by the German VOLKSWAGEN and MERCEDES-BENZ. For the reporting period, sales of used VOLKSWAGEN and MERCEDES-BENZ light commercial vehicles amounted to 10.0 billion rubles and 7.3 billion rubles, respectively.

It should be noted that LADA was the only TOP-15 brand to increase LCV sales both in quantitative (+ 15.7%) and money terms.

Used LCV weighted average prices and market revenue, TOP-15 brands,
January-May 2020/2019

Source: Russian Automotive Market Research