Russian Car Market Makes a Strong Recovery, Surging by 50% — Industry Association Reports

Russia / Local News / News 1297 Views

Russian Car Market Records 50% Recovery, Sales Reach Nearly 440,000 Units

Russian Car Market Makes a Strong Recovery, Surging by 50% — Industry Association Reports - Russia - 1

MOSCOW, July 19. The Russian car market has shown a significant recovery, growing by 50%, according to the President of the Russian Automobile Dealers Association, Aleksey Podschekoldin, during a press conference on Wednesday.

“The current situation indicates that the market has rebounded by 50% only,” stated the expert. “We have not seen a full recovery in terms of cars, trucks, or LCVs (light commercial vehicles),” he added.

Based on the data presented at the press conference, sales of new cars reached almost 440,000 units in the first half of 2023. Of these, 40% were indigenously produced vehicles, amounting to 176,300 units, while 39% (172,800 cars) were imported from China. Cars from brands that have exited the Russian market accounted for 20%, totaling 89,100 vehicles. In 2022, Russia witnessed the sale of 687,400 cars.

Regarding the truck market, it experienced an 80% recovery, primarily due to the surge in imports of trucks, according to the president of the association.