Government has underlined the prospects of the Russian automobile market

November 18, 2021

Prime.- Russian automobile market will exceed last year’s figure by 5-6% in 2021, as told by the Minister of Industry and Commerce Denis Manturov to journalists.

“We figured out what would happen in car sales, due to the downwards trend following a growth period of 30-40%. It became obvious that the course of the situation would lead to lower volumes by the end of the year. Therefore, I’m sticking with my forecast of 5-6% growth” – Manturov said.

According to the forecast published by the Ministry of Industry and Commerce this summer, new car sales will increase by approximately 4.8% in 2021, to 1.76 million units. 1.68 million vehicles were sold in Russia in 2020.

Production of cars, on the other hand, has risen by 10% year-on-year in 2021, as told by Manturov to journalists.

“Production will increase further. The growth rates will differ according to segments. Truck production will grow faster than car production for example. In accordance with our current observations, the growth rate will be around 10%” – as told by Manturov.

According to Rosstat data, car production has risen by 20.5% within the January-September period of 2021, in comparison with the same period of the previous year, reaching 1.02 million units. The September production figure was 106,000 units, on the other hand. The monthly figure remained 25.5% below September 2020, however, exceeding August 2021 by 32.5% in contrast.

Truck production has also risen during the aforementioned period, by 40.8% to 129,000 units. The figure reached 17,600 units in September, following a 20.6% year-on-year growth, which is also equivalent to a 55.1% rise compared to August 2021.

Please see the AEB Press-Release for detailed Russian automobile market figures.