Dealers expect a growth of 6.5% in new car sales in Russia in 2018

Dealers expect a growth of 6.5% in new car sales in Russia in 2018

RNS – ROAD – the Association of Russian Car Dealers expects a 6,5% year-on-year growth in new car sales in Russia in 2018 to 1,7 million units, as told by the president of the Association: Oleg Moseev to journalists.

“Concerning 2018, there are a lot of factors that can have effects on our forecast. We are pretty certain that the new car market will grow by approximately 6,5%, reaching 1,7 million units. The growth in the aftermarket, on the other hand, will remain at 1-2%. The car market amounts to a little over 7 million units in total, which is not bad at all, considering the current economic situation. We are very concerned about the coverage area of the government support programme” – Moseev said.

As reminded by Moseev, new car sales in Russia have grown by 11,9% in 2017.

“Part of the clients have returned from the secondary market to the new one. For that reason, the second hand car market has not grown as much. If we check the dealer centres, we see a growth in both new and second hand car sales” – he said.

“As for the utilisation fees (growth in rates), the implementation will primarily affect the car imports. The increasing fees will have an effect on the new car sales in Russia. Our forecast for new car and LCV market was a 10% growth in 2018, prior to the information about the increase in rates” – Moseev added.

1100 car galleries are united under the Association, forming 58% of the Russian new car market.