The department assumes that in 2024, the production of new cars of all segments at the country's factories will exceed 800 thousand units, which is 16 % more than a year earlier.
The Russian auto industry and car market found themselves in crisis in 2022 after many foreign companies stopped doing business in the Russian Federation: companies officially stopped selling cars and spare parts, and many also sold local factories. Now some cars and parts are imported into the country under an urgently legalized parallel import scheme; Most of the production sites have been purchased, although not all of them have been able to restart yet.
Photo from the Moskvich plant
Over the past year, automakers in the Russian Federation managed, through joint efforts, to increase the production volume of all types of vehicles to 724 thousand units. This result is 16% more than the volume recorded in 2022. As Interfax reports, according to the forecast of the Ministry of Industry and Trade of the Russian Federation, at the end of the current year the increase will be the same — 16%. The department expects that the volume of cars produced in the country of all segments will exceed 800 thousand units.
The head of the Ministry of Industry and Trade Denis Manturov explained that in the first quarter 214 thousand cars were produced in the country, about 350 thousand were sold. He added that the situation in the auto industry and on the Russian automobile market this year will depend, among other things, “on the financial and credit policy, key rate» (the results will be higher if the key rate decreases).
Photo from the AVTOVAZ plant
In accordance with the forecast of the Ministry of Industry and Trade, sales of new cars in Russia at the end of this year may exceed 1.32 million units. Let us recall that according to Autostat, in 2023, a total of 1,058,708 new passenger cars were sold on the Russian market: this result was 69% more compared to the disastrous indicator of 2022 (then sales collapsed by almost 59% to 626,281 pcs.). For comparison, the result of the “pre-crisis” 2021 was equal to approximately 1.516 million new passenger cars sold.
In the photo: Haval Jolion
The Russian car market recorded a significant increase at the beginning of this year. During the first quarter of 2024, 341,619 new passenger cars were registered with the state (according to JSC PPK), this result is 85.6% higher than the figure for January-March last year.
The AEB Automobile Manufacturers Committee also agrees with the assumptions of the Ministry of Industry and Trade regarding the Russian car market in 2024. Judging by the forecast prepared by the organization, by the end of this year, sales of new cars in the country will reach or likely exceed 1.3 million units. The AEB explained that this option takes into account “emerging trends in the market” and the absence of “significant negative changes.”