The development strategy for Russian automotive industry has been approved

The development strategy for Russian automotive industry has been approved

Autostat – Prime minister Dmitry Medvedev has approved the document prepared by the Ministry of Industry and Trade on the strategy for the development of Russian automotive industry until 2025, following a special meeting chaired by himself.

“The market has started to recover. Russian manufacturers have produced almost 20% more vehicles year-on-year, according to 2018 figures” – said the prime minister, during the discussion of the issue. Medvedev has drawn the attention of the participants of the meeting to the possibility of an increase in competitiveness in the Russian automobile market as a result of positive dynamics, in case the brands, which left the country due to crisis, make a return: “In that sense, our market is open and the manufacturers must be ready for increased competition” – Medvedev stated.

As reported by Rossiyskaya Gazeta, the document adopted in 2010 will be replaced within the scope of the new strategy, which has already fulfilled the task of meeting the market demand through the production of domestic cars. Russia has made a qualitative transition from being an importer of used automotive equipment to a country with a developed assembly cycle. Now it’s time to solve new problems, as the systematic complications of the industry, including the low share of exports, slow dynamics in the development of the manufacturers of car components and the unpreparedness for the arrival of new products in the market. The implementation of the strategy is expected to increase the revenues of car manufacturers to 2.5 trillion rubles annually, the domestic market to 2.5 million vehicles and the localisation rate to 70-80% etc. The document aims for the production of vehicles in the Russian market, with fundamentally new properties, in line with the developed countries, by 2025.