Luxury cars in Russia targets only the most affluent consumers. As such, during the economic recession of 2015-2017, luxury cars outperformed the overall automotive industry in Russia and demonstrated lower price elasticity of demand and lower volatility.
In Russia, luxury car dealerships work on a quota basis, ordering and receiving limited numbers of cars per year. Generally, a dealership’s allocation depends largely on previous sales results and effective planning.
Producers of luxury cars introduce new unique models each year. In 2018, producers introduced a greater number of new crossover and SUV models.
Mercedes-Benz Russia SAO remained the clear leader in luxury cars in 2018 thanks to effective range diversification and high brand recognition among wealthy Russians. The company sought to occupy all possible niches and provide unique options demanded by affluent consumers.
Toyota Motor Corp’s Lexus remained the most successful luxury SUV brand in 2018. According to Avtostat data, Lexus accounted for over 90% of total brand value sales of luxury SUVs in Russia.
Growing internet use and the increasing importance of digital advertising and the internet as a valuable platform for customer communications encouraged players to invest significantly in online operations. Luxury cars were distributed mostly via authorised dealerships, which offered high levels of personal service.
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This report originates from Passport, our Luxury Cars research and analysis database.
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