Russian government predicts 10% growth in automotive industry in 2018

Russian government predicts 10% growth in automotive industry in 2018

Finmarket – Russian government predicts 10% growth in automotive industry in 2018. The Russian Ministry of Industry and Commerce forecasts a sales figure of 1.638 million cars in 2018. According to the ministry, 1.48 million cars have been sold in 2017. Thereby, the growth rate may reach 10.7%.

Car production in Russian Federation is predicted as 1.483 million vehicles in 2018 (+10.75%).

The ministry predicts the Russian LCV market as 121,900 units in 2018 (+5%), alongside the same growth rate in LCV production (+5%) to 114,800 vehicles.

Truck sales in RF will reach 82,300 units in 2018, according to the ministry (almost 5% increase) and the production is expected at the level of 76,000 units (around 5% rise).

The sales and production of buses are predicted to rise by 0.8%, to 12,500 and 13,300 units respectively.

As a result, the Russian automobile market is predicted as 1.855 million units in total in 2018 and the total automotive industry production as 1.687 million units (a 10% rise).