In 2022, Russia is projected to see about 800 thousand new car sales, a figure disclosed by Denis Manturov, head of the Ministry of Industry and Trade and Deputy Prime Minister, in an interview with TASS. Manturov stated that production would surpass the 600 thousand car threshold, with new car sales expected to reach around 800 thousand units, a sign that the market was stabilizing after a challenging year.
Manturov pointed to a period of greater resilience for the automotive sector, noting that it endured more strain than many other industries yet began showing signs of recovery by year end, according to the ministry’s remarks relayed by TASS.
Following the start of the special military operation in 2022, many foreign automakers halted production at Russian plants and some announced asset sales or market withdrawal. Renault sold its stake in AvtoVAZ to the state-owned Federal State Unitary Enterprise NAMI and transferred its Moscow plant to the Moscow city government. Nissan divested its assets to the same NAMI entity, while Mercedes-Benz exited via the Avtodom dealer holding. Volkswagen exited its facility in Nizhny Novgorod, and Mazda sold its stake in the Vladivostok plant to Sollers. Toyota reportedly halted production at its St. Petersburg plant, leading to a significant realignment of the industry, as noted in contemporary coverage by TASS.
A separate analysis from Avtostat had already indicated a rise in the average price of used cars, climbing by roughly 37 percent from December 2021 to December 2022, underscoring shifting dynamics in consumer demand and the overall market environment, according to the analytics firm’s findings reported through industry briefings.