Russia used car market

Japan is the world's leading source of automobiles and is known for ages for delivering high quality vehicles at competitive prices. Importing a used car from Japan is very frequent because of their reliability and authenticity. The country is a popular destination for Japanese used vehicles. Even luxury vehicles from Japanese automakers are preferred in the country. The fallout of USSR and the beginning of the Russian Federation, led to the emergence of a big market for automakers. The country provides favorable and many opportunities for automobile manufacturers across the world. The development of used vehicle market in Russia contributed towards the growth of dealership networks in the country. Russia is among a major importer of Japanese used vehicles.

With the population of around 142.5 million, there are as many as 230 cars per 1000 people in the country. Importation of left hand drive vehicles is allowed in the country. Charges payable upon entry for private permanent or commercial use include approximately 25 percent of the vehicle's value as an import tax, along with VAT of approximately 20 percent of the value of the vehicle. In addition, there may be other fees applicable to used vehicles imported for permanent use. However, foreign diplomatic employees importing vehicles for private permanent or commercial use are allowed for tax-free importation. Importer should understand and follow all import regulations in Russia.

Generally SUVs are preferred in Russia due to road conditions and harsh weather conditions. Out of all Japanese makes, models of Nissan are mostly purchased in the country. Huge numbers of Nissan vehicles are imported in Russia, mainly Nissan X-trail. The SUV is one of the most selling cars in the Russian Federation. Finding the spare parts for used vehicles is also not a difficult thing in Russia. While importing Japanese used vehicle in Russia, it is important to get the vehicle checked for the presence of any radioactive substance. Cost for importing used vehicles in Russia is a bit high, but people still do it. There is huge demand for cars in the country.

Charges payable upon entry for private permanent or commercial use vehicles in Russia include approximately 25 percent of the vehicle's value as an import tax, along with value-added tax of approximately 20 percent of the value of the vehicle. In addition, there may be other fees applicable to used vehicles imported for permanent use. However, foreign diplomatic employees importing vehicles for private permanent or commercial use are allowed for tax-free importation.

The automobile sector is one of the priority sectors in Russian economy. In fact, in terms of growth rates, the Russian market is one of the fastest growing in the world. The growing middle class, low fuel prices, and the country’s expanding economy are the factors that help in the growth of the automobile sector of the country.