Russian automobile imports may shrink by 50% in 2015

Russian automobile imports may shrink by 50% in 2015

Vedomosti – Avtostat executive director Sergei Udalov and VTB Kapital analyst Vladimir Bespalov have told Vedomosti that the automobile imports of Russia may reduce to half in 2015 year-on-year, due to factors such as: the depreciation of the rouble, the decline in the purchasing power of the consumers and the new domestic models to be introduced to the market. The Russian Car Manufacturers Union executive director Igor Korovkin and the chairman of the Russian Car Dealers Union Vladimir Mozhenkov are of the same opinion. According to the prediction of Udalov and Bespalov, the year-end import figure will be between 500-600,000 vehicles (-23%-28%). The figure is expected to remain somewhere between the 280-300,000 vehicles interval, by the end of 2015.

Udalov, Mozhenkov and officials from two major car manufacturers foresee the total shrinkage rate in the market as 35% for the year 2015 (1.5 million vehicles). Bespalov’s prediction, on the other hand, is 10%, however he doesn’t deny the possibility of a rise to 30% either.