Sales of new passenger cars in Russia in 2024 will increase by a third compared to 2023, to 1.4 million units. However, they will subsequently decline until 2028, according to experts from the Romir holding and Oks Labs.
The study presents three scenarios for the development of the Russian car market:
- basic
- optimistic
- pessimistic
According to the basic scenario, sales will increase by a third this year, to 1.4 million cars. The optimistic scenario envisages an increase of 42%, to 1.53 million cars, and the pessimistic scenario – only 4% to 1.12 million units.
Experts emphasized that 80% of Russians are not ready to buy cars in the next 6 months due to the current market situation. Consumers believe that now is not the best time for big purchases.
In addition, 79% of respondents said that car maintenance has become more expensive. Against this background, potential buyers either choose budget options or postpone the purchase indefinitely.
Earlier, AvtoVAZ stated that funds for car loans in banks are running out.