Selling cars in Russia
Russia’s automobile market has overcome its low point for the time being
Russia’s automotive market demonstrated growth in 2024. But the increase is based primarily on a low base – and new obstacles are looming.
Russia’s automobile market grew significantly last year from historic lows. A total of 1.55 million new cars were sold in 2024, an increase of 47 percent, reported the Russian news agency Interfax, citing the Ministry of Industry and Trade. Sales of small vans increased by 33.6 percent to 140,000 vehicles.
The significant increase is primarily due to the low base. After the start of the war of aggression against Ukraine ordered by Kremlin chief Vladimir Putin, the Russian car market collapsed. Western vehicle manufacturers in particular have withdrawn from the country. According to the Association of European Business (AEB), which was then leading in the Russian automotive sector, 1.67 million new cars were sold in 2021, but in 2022 there were only 690,000 and in 2023 the market was also well below its long-term average at 940,000.
Even now the Russian car market is far from its peak. In 2008, around three million new cars were sold in Russia. Car sellers are also worried about the increase in the scrapping premium. Since they were raised at the beginning of October, sales have fallen again.
dpa
Source: Stern
