All news
Updated at: 

Russian minister expects sales of new cars to gain 30% in 2023

It is reported that sales of new passenger cars and LCVs (light commercial vehicles) in Russia fell by almost 59% in 2022 compared to 2021 to 687,000 vehicles

MOSCOW, March 16. /TASS/. Sales of new cars in Russia may rise by 30% in 2023, Deputy Prime Minister, Industry and Trade Minister Denis Manturov said on the sidelines of the RSPP (Russian Union of Industrialists and Entrepreneurs) congress on Thursday.

"In the previous month we said that [sales of cars] will increase by around 30% for sure compared with last year," he said.

Speaking about prices for cars the minister said that they rose considerably in March-April 2022, adding that the situation with logistics routes, supplies and the production of components has stabilized by now, bringing prices into balance.

The parallel import mechanism, which was extended by such brands as Citroen, Isuzu, Mazda, Opel, Peugeot, Renault, Ford, Genesis, Hyundai, Kia, Dacia and Hino this week, is not expected to seriously influence the prices of cars, he noted.

Sales of new passenger cars and LCVs (light commercial vehicles) in Russia fell by almost 59% in 2022 compared to 2021 to 687,000 vehicles, according to figures provided by the Association of European Businesses (AEB).