Russia’s new vehicle sales are expected to double in 2024. According to data from the Russian Ministry of Industry and Trade released on Saturday, new car sales in 2024 are expected to reach 1.55 million units, up 47% year over year.
Moscow’s invasion of Ukraine in February 2022 led to a major reshuffle in the Russian auto market, with Western automakers abandoning the country and Chinese automakers rushing in to fill the production gap.
Last year, the Chinese auto brand Chery performed outstandingly in the Russian vehicle market. Sales increased threefold year over year, reaching 118,950 units. Chery surpassed South Korea’s Hyundai and Kia and became the number one imported vehicle seller. Accordingly, sales have been steadily recovering since their sharp decline in 2022.
Meanwhile, in December last year, Sergei Tselikov, head of the Russian analytical agency Autostat, predicted that new vehicle sales in 2025 will likely fall by about 10% due to high inflation and rising disposal costs.
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