Russia’s passenger car production and market outlook for 2024
Industry analysts project a notable rebound in Russia’s passenger car sector in 2024, with production预计 rising by about 42 percent compared with the previous year. This forecast comes from the Union of Russian Automobile Manufacturers and has been circulated by the Telegram channel No Limits. The projection indicates new car output reaching around 660,000 vehicles, while new car sales are expected to climb to roughly 1.1 million units.
Within the first eleven months of 2023, Russians purchased approximately 939,300 new passenger cars, a leap of nearly 65 percent compared with the same period in 2022. This rapid growth in demand helped support expectations that the market was entering a recovery phase after a stretch of slower sales, signaling improved consumer confidence and improved commercial activity in the automotive sector.
Earlier statements from a senior official at the Ministry of Industry and Trade suggested that the Russian car market should continue its recovery trajectory. The ministry noted the possibility of sales reaching about 1.3 million units in 2024. Looking further ahead, the department projected that the annual sales level could align with the average observed during 2015–2021 by 2026. From 2027 onward, the market was expected to grow gradually, at around 1 percent per year, driving estimates to about 1.8 million vehicles annually by 2030 and potentially around 1.9 million by 2035.
In related regulatory matters, there have been reports touching on penalties for certain traffic or compliance issues, with references noting that violations can lead to substantial penalties. These discussions underscore the broader environment in which the automotive sector operates, including regulatory enforcement that can influence both production and consumer behavior.
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