The variety of automobiles with an marketed worth of $100,000 or extra elevated by 22% final yr, information reveals
The variety of luxurious automobiles in Russia elevated by 22% final yr regardless of the exodus of Western automakers as a consequence of sanctions, enterprise day by day RBK reported on Monday, citing evaluation of federal tax audit information.
According to analysis supplied by the FinExpertiza consultancy, the “luxury tax” charged on automobiles with a sticker worth of 10 million rubles ($100,000) or extra elevated by 31% final yr to three.34 billion rubles ($33.5 million).
Individual house owners accounted for round 12,800 luxurious automobiles in 2022, whereas some 7,000 automobiles have been registered by enterprises and organizations.
Moscow and its surrounding area accounted for round half (9,800) of luxurious car purchases in Russia, adopted by St. Petersburg with 2,000. At least 76 Russian areas registered will increase within the variety of luxurious automobiles final yr, with the most important proportion rises recorded within the republics of Kalmykia, Buryatia, and Dagestan, in addition to Amur Region.
Data confirmed that the variety of high-end automobiles in Russia has grown year-on-year, with 2022 marking a 250% surge on the pre-Covid pandemic 2019.
“The upward trend couldn’t be reversed either by the coronavirus crisis that broke out in 2020 or by Western sanctions that restricted Russians’ access to the luxury segment in 2022 and led to a sharp price hike,” FinExpertiza analysts stated.
Demand for costly automobiles stays secure in Russia as a result of it’s much less price-dependent than the mass market, in accordance FinExpertiza president Yelena Trubnikova, as cited by RBK.
The US, the EU, and Japan have banned exports of luxurious automobiles and different items to Russia in response to Moscow’s navy operation in Ukraine. Since March 2022, when the sanctions have been imposed, Russian neighbors Georgia, Armenia, Kazakhstan, and Finland have been accused of enabling the re-export of high-end cars into the nation.
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(RT.com)