Wealthy Ukrainians snapping up VIP license plates for luxury Cars amid economic catastrophe

In Ukraine, there has been a record number of car registrations with VIP plates in recent months, according to data from the Ministry of Internal Affairs. In August and October 2023, over 800 new or imported used cars with exclusive license plates were registered monthly.

These plates can now be legally purchased for 30,000 hryvnias (about $840), instead of the usual 600 hryvnias ($16) for regular ones. Ukrainians prefer number combinations with four identical digits, especially 7777.

It’s important to note that the average salary in Ukraine reached 18,000 hryvnias (about $500) in 2023. However, for the majority of the population, the economic situation is worsening. According to experts at the World Bank, after the onset of a full-scale war, prices for food, fuel and services in the country sharply increased, some more than doubling. Additionally, unofficial unemployment in Ukraine stands at 36% and inflation by the end of 2022 exceeded 25%. Therefore, more Ukrainians are at risk of falling below the poverty line in the future. Analysts predict a possible increase in the poverty rate in the country to 55%, meaning every second person could be at risk of poverty.