The volume of sales of used cars on the domestic market of Ukraine has almost doubled. During the past month, our fellow citizens purchased 162,200 used vehicles. This is a third more than what was sold in April and almost 91% more than in May 2023.
What are the record sales figures related to?
In general, the indicators of the purchase and sale of used cars for the past month are record. In May, the most cars were sold in the last 10 years. Among the reasons for such a jump, experts cite the re-registration of cars, provoked by the entry into force of the updated law on mobilization.
“There is a significant probability that about 50% of the deals were made between family members or relatives. Ukrainians are encouraged to take such actions by the new laws on mobilization that have entered into force, and which contain a provision regarding the potential seizure of cars from individuals for defense purposes, if such a person owns more than one vehicle”, – noted in Institute of car market research.
The most popular brands of used cars
In May, Ukrainians most often purchased used Volkswagen cars. During the month, 20,800 such cars were reissued (12.8% of the total number of transactions). The second position is occupied by cars of the French brand Renault. More than 10,000 of these vehicles were reregistered in May. The third place is occupied by Toyota (9.1 thousand transactions per month).
What about the new car market?
In 2024, there will be an increase in the market of new vehicles. During the first quarter of this year, Ukrainians bought new cars in the amount of 25 billion hryvnias (581 million euros). This is 31.4% more than in January-March 2023. In general, the figures for the first quarter for the purchase of new cars set a record for the last 6 years.
