Page 61 - bne IntelliNews Russia OUTLOOK 2025
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5.7 Automotive
Sales of new passenger cars in Russia were up by almost half (47%) y/y in 2024 to 1.55mn units, according to industry and trade ministry data, Reuters reports.
Car sales plummeted in the wake of Russia’s invasion of Ukraine in 2022 but have bounced back in the last year and almost recovered all the ground lost.
New sales in 2025 are expected to fall by around 10% to 1.43mn units, Sergei Tselikov, head of Russian analytical agency Autostat, said in December, as high inflation and scrappage fees push prices up.
The Russian economy is cooling as the military Keynesianism effects wear off and persistent high inflation remains a major headache. In 2025 consumption is expected to slow dramatical taking the edge off the strong economic growth of the last two years.
While the OEMs have almost all entirely left the Russian market, their place has been taken over by Chinese and other producers.
61 Russia OUTLOOK 2025 www.intellinews.com
