Russian dealers will raise prices for cars from China by 10% from September. The Russian Automobile Dealers Association (ROAD) explains the possible price increase by problems with bank payments between the two countries, Izvestia writes.
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Transfers between the two countries take two months, and some are returned back, which sharply increases the cost of delivery. At the same time as these difficulties, the Central Bank raised the key rate to 18%, and commercial credit rose to 26-30%.
"With such a cost of money, businesses lose 2% per month, without any return. Taking into account the two-month freeze in working capital, car sellers have lost approximately 8% of their investments, which will certainly affect the cost of deliveries and the price of cars. Already in September, the market will be forced to raise prices for imported cars by at least 10% to make up for the losses," said the head of ROAD, Alexey Podshchekoldin .
Market participants warn that if the problem with payments persists, then against the backdrop of an increase in the recycling fee, another price change can be expected by the end of the year.
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