Automobile dealers predict a 5-10% decrease in sales of new passenger cars in Russia in the fourth quarter of 2023, compared to third quarter results. This was reported by RIA News Referring to the Russian Association of Automobile Dealers (ROAD).
“We should not expect positive forecasts for the auto market in the fourth quarter. There are three main reasons for this: the increase in the recycling fee, the increase in the Central Bank rate and the weakening of the plus ruble. “An optimistic forecast is that the auto market will remain at the third quarter level, but a realistic forecast predicts a decline of about 5-6 percent, maybe even 10 percent,” he said.
Before that, he worked at the Ministry of Industry and Trade statedHe said that the Russian automobile market will begin to recover and the sales level may reach 1.3 million units in 2024. The Ministry noted that the sales volume in 2026 will correspond to the average annual sales volume in 2015-2021. The market will gradually grow by 1% per year from 2027. Thus, by 2030 the Russian automobile market will reach the level of 1.8 million cars per year, and by 2035 the sales volume will reach 1.9 million cars per year.
Previously on ROAD statedIt is stated that 950 thousand new passenger cars will be sold in Russia by the end of 2023.