MOSCOW, January 11. /TASS/. Avtovaz forecasts growth on the Russian new cars and light commercial vehicles (LCV) market, President of the Russian automaker Maxim Sokolov said.

"Our forecast is more cautious: we estimate 5-10% against the recent level," the chief executive said.

According to Avtovaz estimates, the Russian new car and LCV market amounted to about one million vehicles in 2023, not including alternative import channels. Sales in 2024 may therefore stand at 1.05-1.1 mln units.

The Association of European Businesses said earlier that this market may grow by 15% to 1.3 mln vehicles.