Car imports in the Far East have reached a new high. According to the "Regional Economics" data from the Far Eastern Main Branch of the Bank of Russia, in October, car deliveries through the port of Vladivostok increased by almost a quarter compared to September and by a third compared to last year. Land border crossings in Primorye also recorded a record: the volume of foreign car imports increased almost 4 times year-on-year.
According to Anton Gulevich, chief economist of the department, most of the cars were imported for personal use, but the segment of cars imported for resale is also growing. November reinforced the trend: import volumes exceeded the October maximum, and Primorsky customs offices worked around the clock at the end of the month.
The hype is also noticeable in the secondary market. Sales of used cars in Primorye in October increased by 13%, while the supply increased by 1.5 times over the year, which led to a decrease in prices by almost 9%. The department has recorded a steady increase in demand for the third month in a row.
