Some Russian car dealers may go bankrupt in 2024. In this respect report Izvestia cites Vyacheslav Zhigalov, deputy chairman of the Russian Association of Automobile Dealers (ROAD).
“Russian dealers are unlikely to realize their new car sales plan for 2024; manufacturers have set a goal of selling almost 2 million cars. The dealer cannot reject or make changes to the sales plan. If the seller does not accept the manufacturer’s terms, he has the right to terminate the contract without giving reasons. And in this case, the seller may go bankrupt,” said Zhigalov.
Chinese cars are already starting to accumulate in dealer warehouses, according to analytics agency Autostat. The surplus reached 175 thousand cars. To realize the plan, dealers will have to impose additional services on consumers.
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 department stated 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 reportedIt was stated that the former PSMA Russian automobile factory will be reactivated in Kaluga.