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VTB forecasts record-breaking electric car sales in Russia this year

According to the statement, about 11,000 electrically-driven vehicles were sold in Russia over five months, which is almost four times above the last-year result

MOSCOW, June 3. /TASS/. The demand for electric cars is expected to soar by 63% in Russia this year and about 40,000 of such vehicles will be purchased, VTB analysts said on the verge of the St. Petersburg International Economic Forum.

"In 2024, in the environment of further growth of the offer in the market, the buildup of the component stock and the support of electric car owners, the interest in such cars continued rising. About 11,000 electrically-driven vehicles were sold in Russia over five months, which is almost four times above the last-year result. Considering current growth rates and planned twofold increase of the network and the number of regions with 'fast' chargers, VTB forecasts the rise in sales by 63% to 40,000 units in general as of the year-end," the bank said.

Such number of cars will be record high for the market, VTB noted. Analysts included hybrid vehicles in their estimate. Last year, electric car sales in Russia skyrocketed by more than eight times to 24,400, VTB added.

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