A RIA Novosti study revealed significant differences in car affordability across Russian regions. The worst situation is observed in the North Caucasus republics, where only a small proportion of families can afford to purchase and maintain a new car on credit.
Ingushetia ranked last, where only 1.9% of families can afford to purchase and maintain a new, inexpensive car costing 1.3 million rubles on credit. Chechnya and Dagestan also ranked last, with 2.3% and 3.7% of families able to afford a car, respectively.
Furthermore, Kabardino-Balkaria ranked last, with only 4.2% of families able to afford a car. The situation is slightly better in North Ossetia and Karachay-Cherkessia, with 5.6%.
The Yamalo-Nenets Autonomous Okrug, Chukotka, and Magadan Oblast topped the rankings. In these regions, the share of families who can afford to purchase and maintain a new, inexpensive car (1.3 million rubles) on credit ranges from 45% to 58%. These regions also lead in the share of families (20-29%) who can afford to purchase and maintain a mid-priced car (2.9 million rubles).
